S & P and Moody’s put on the downgrade of the subsidiaries of VTB and Sberbank – RBC

S & P and Moody's put on the downgrade of the subsidiaries of VTB and Sberbank – RBC

The international rating agency Standard and Poors (S & amp; P) and Moody’s on Monday placed on review with negative implications the short-term and long-term ratings of subsidiaries of Russian bank VTB.

S & amp; P sent for review with negative implications Ratings subsidiaries VTB – Bank of Moscow, “VTB Capital”, “VTB Leasing”, “VTB Leasing Finance”, “VTB Insurance”, the site says the agency. It also intends to review the ratings of Kazakh, Austrian and French subsidiaries of VTB Bank.

S & amp; P explained his actions “a sharp deterioration in the flexibility of the Russian monetary policy and the impact of economic weakness on its financial system».

In addition, the agency has placed on review for “negative” outlook on the ratings of Moscow and St. Petersburg, as well as major Russian insurers – SOGAZ “Ingosstrakh” and “RESO-Guarantee».

For its part, Moody’s sent on review for possible downgrade the ratings of Sberbank branches – Kazakh SB Sberbank JSC, Denizbank, “BPS-Sberbank” and “VTB Capital” and two foreign subsidiaries VTB – Austrian and German.

“These rating actions follow after placing Moody’s December 23 on review for possible downgrade their respective Russian parents [Sberbank and VTB],” – said in a letter that the agency sent out by e-mail.

As the cause of the possible revision of Moody’s ratings indicated continuing instability in Russia.