OREANDA-NEWS. December 25, 2009. Moody's Investors Service, an international rating agency, took rating actions affecting Alokabank. The bank's long-term foreign currency deposit rating was upgraded to B2 from B3.

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

Moody's previous rating action on Alokabank was on 21 May 2009 when Moody's placed their local currency deposit ratings on review for possible downgrade.

Headquartered in Tashkent, Uzbekistan, Alokabank reported total IFRS assets of 197 billion soums (US 141 million) and net IFRS income of 4.2 billion soums (US3 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.