OREANDA-NEWS. National Rating Agency has lowered its credit rating on Commercial Bank OBRAZOVANIE (JSC) to ‘A+’. The outlook for the rating is Stable. The bank was assigned NRA’s first-time ‘BBB’ credit rating on Sep. 16, 2009. The latest rating action (the credit rating upgrade to ‘AA-/Stable’) was on Nov 26, 2015.

CB OBRAZOVANIE was established in 1991 (the Bank of Russia’s general banking license No 1521) in accordance with a resolution of Moscow’s largest higher education institutions. In 2000, all higher education institutions exited the bank’s ownership structure, and their stakes were taken over by commercial organizations. Today, the bank is owned by its top managers and Board members. OBRAZOVANIE operates a universal bank model offering a wide range of products to corporate entities and individuals. It is licensed to engage in a wide range of banking services. OBRAZOVANIE is a member of different professional societies and associations, has joined the Deposit Insurance System and has a well-developed network infrastructure. The bank offered its 3-year RUB 1.4 bn series 01 debut notes at the Moscow-based MICEX-RTS exchange on May 29, 2015. The notes have been included in the Central Bank of Russia’s Lombard List.