The international rating agency Standard & Poor’s has carried out a review of Banking Industry Country Risk Assessment (NICRA) in Russia and moved it from group 8 to a high-reliability group 7, RIA Novosti reports.
S&P notes that the change reflect Russia’s high risks of economic instability, medium risk of economic misbalance and very high risks in economy.
Another rating agency Moody’s had a contrary view on the banking situation in Russia and changed its rating from “sustainable” to “negative” on October 24. Experts say that the “negative” rating reflects concerns that global economic conditions and volatility of financial markets would weaken operation in Russia, banks would lose liquidity, crediting and assets would drop.
Moody’s expects the “negative” rating will remain for the next 12-18 months.
