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BRIEF-Moody's says downgrades Bank Otkritie Financial Corporation PJSC to B2
September 5, 2017 / 9:46 AM / 3 months ago

BRIEF-Moody's says downgrades Bank Otkritie Financial Corporation PJSC to B2

Sept 5 (Reuters) - Moody’s -

* Moody’s downgrades Bank Otkritie Financial Corporation PJSC to B2; developing outlook

* Rating reflects Otkritie’s failure due to significant outflow of clients funds, request for a bail-out from its shareholders

* Has revised the probability of government support for Otkritie’s senior creditors to very high from moderate

* Otkritie’s failure and the central bank’s due diligence will likely lead to significant losses and consequent reduction in capital Source text for Eikon: Further company coverage: (Bengaluru Newsroom)

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