Moody's Revıews For Downgrade Ratıngs Of 16 Russıan Banks

Moody's Investors Service had placed on review for downgrade ratings of 16 Russian financial institutions, the company announced on Tuesday.

The review would include, the long-term deposit, debt and issuer ratings and bank financial strength ratings of 16 Russian financial institutions in response to the ongoing severe deterioration in Russia's operating environment and financial market conditions.

"With a much more pronounced weakening in Russia's economic outlook in the next two years than previously anticipated, financial institutions now face more significant pressures on their funding costs, asset quality and profitability in the medium term. The review will focus on each institution's resilience to these much stronger headwinds" said in a Moody's statement.

Moody's has also downgraded the long-term and short-term foreign-currency deposit ratings of four Russian financial institutions, the company said. - İstanbul