Moscow, October 10, 2014 -- Moody's Interfax Rating Agency has today downgraded to Aa3.ru from Aa2.ru the national scale long-term deposit rating (NSR) of OTP Bank (Russia) OJSC. 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. NSR carries no outlook.
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