The rating agency downgraded the bank's long-term foreign- and local-currency deposit ratings to Caa2 from B1 and changed the review to direction uncertain from review for downgrade.
‘The downgrade of the bank's deposit ratings to Caa2 from B1 reflects Moody's
view that the probability of government support is lower than previously anticipated, and the agency now considers this probability to be 'High' rather than 'Very High'. The government and the bank have officially stated that individual and corporate deposits are not affected by the restructuring’, the agency said.
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