Moody's changes Orient Express Bank rating outlook on positive

2008.01.18

Rating Agency Moody's Investor Service changed the outlook on B3/Not Prime local and foreign currency deposit ratings of Orient Express Bank to positive from stable. Bank's financial strength rating of E+ was affirmed with stable outlook. The long-term national scale rating is Baa2.ru.

According to Moody's, the change in the rating outlook reflects the strengthen position of the Bank in its home region of Far East and astern Siberia where the Bank has the second-largest retail network and retail loan portfolio. The positive outlook also reflects the solid financial fundamentals of Orient Express Bank.

Moody's also mentions the Bank's vigorous work in the domain of domestic retail deposits. Such deposits help the Bank to diversify the sources of financing.