OREANDA-NEWS. December 25, 2009. Moody's Investors Service took rating actions affecting Qishloq Qurilish Bank. The bank's long-term local currency deposit rating was upgraded to B1 from B2, and long-term foreign currency deposit rating was upgraded to B2 from B3.

The bank's E+ BFSR and Not Prime short-term deposit ratings remain unchanged; stable outlook is maintained on all of the ratings.

Moody's previous rating action on Qishloq Qurilish Bank was on 29 July 2009 when Moody's upgraded long-term local currency deposit rating to B2 with Stable outlook.

Headquartered in Tashkent, Uzbekistan, Qishloq Qurilish Bank reported total IFRS assets of 171 billion soums (US123 million) and net income of 5 billion soums (US 3.7 million) as at 31 December 2008.

The principal methodologies used in rating are Moody's "Bank Financial Strength Ratings: Global Methodology", published in February 2007, and "Incorporation of Joint-Default Analysis into Moody's Bank Ratings: A Refined Methodology", published in March 2007.