OREANDA-NEWS. June 5, 2012. Expert RA rating agency assigned B++ (acceptable) creditworthiness rating to Sovetsky Bank.  Forecast is “stable”.

Sovetsky Bank rating is supported by low concentration of active operations on large credit risk objects and by client-diversified passive base. Another plus: moderately high share of “long” liabilities, stable dynamics of attracted funds in 2010-2011.

Key creditworthiness limiting factors: extremely low capital adequacy, poor diversification of attracted funds by sources with their low geographic diversification. Other disadvantages: absence of broad sources of additional liquidity, poor long-term asset/liability balance, provision policy inadequate to current level of problems and bad loans. The bank is characterized by poorly secured loan portfolio.

Expert RA Rating Agency is the first independent rating agency in Russia founded in 1997 by Expert  magazine. It is presently the largest Russian rating agency. The Agency strategic goal is to provide all-round information and analysis assistance to companies, operating on the Russian market. The Agency business is based on unique system of rating products. Expert RA family of ratings presents classic credit ratings of companies in all economic branches, regions and municipalities, as well as ratings related to different aspects of social responsibility of companies: corporate governance rating, companies' ecological liability rating. Currently Expert RA ratings have been assigned to over 350 companies (including companies from Eastern Europe, CIS and the Baltic countries) and regions (60 received the Agency credit rating).