Moody's announces completion of periodic review of ratings of five banks in Azerbaijan
- 01 August 2020
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Kapital Bank OJSC, International Bank of Azerbaijan, OJSC XALQ BANK, Joint Stock Commercial Bank Respublika and OJSC Bank of Baku, APA-Economics reports citing the Agency.
The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. The review did not involve a rating committee. Since 1 January 2019, Moody's practice has been to issue a press release following each periodic review to announce its completion. Recall that Moody's affirmed Kapital Bank OJSC’s Baseline Credit Assessment (BCA) at b1. The agency also affirmed International Bank of Azerbaijan, OJSC XALQ BANK, Joint Stock Commercial Bank Respublika BCAs at b3 while the affirmation of OJSC Bank of Baku's BCA was at caa1.