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10.10.2014 11:29:00
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OTP Bank (Russia), OJSC -- Moody's downgrades OTP Bank Russia to Ba3; outlook negative
London, 10 October 2014 -- Moody's Investors Service has today downgraded to Ba3 from Ba2 the long-term foreign and local-currency deposit ratings of OTP Bank Russia. The rating action is driven by (1) its asset quality deterioration against the background of weak performance in Russia's (Baa1 negative) consumer lending market; and (2) loss-making performance in H1 2014 that mainly stemmed from growing credit costs.
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