Moody’s might lower Sberbank

Moody's Investors Service said it placed Sberbank PJSC's long-term local currency Caa2 deposit rating and caa2 adjusted baseline credit assessment on review for downgrade.

The Caa2(cr) counterparty risk assessment and B2.ua national scale rating were also placed on review for downgrade.

Moody’s said the action reflects the announced signed legal binding agreement on the sale of 100% stake in the bank by Russian Sberbank (foreign currency long-term deposit rating Ba2/ senior unsecured debt Ba1 stable, BCA ba1) to the consortium of investors, which include Latvian Norvik Bank (unrated) and a Belarusian private company.

The transaction is expected to close in the first half of 2017 after receiving approval of the financial and antimonopoly regulators of the relevant jurisdictions, including Latvia and Ukraine.

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