Moody’s affirms rating forecast of Azerbaijan’s Xalq Bank

The international ratings agency Moody’s Investors Service has kept unchanged the long-term rating of Azerbaijan’s Xalq Bank OJSC on liabilities – at the level of B2, and the outlook as “negative,” said the bank’s message posted on its website July 28.

The message also said that the agency has affirmed the Counterparty Risk Assessment at the level of B1(cr)/Not Prime (cr).

Evaluating the bank’s prospects, Moody’s analysts noted that the rating’s affirmation is based on such factors as the bank’s strong position in the market, a stable deposit base, the level of profitability, the quality of assets and strong capitalization.

Xalq Bank OJSC obtained a license for operation on Dec. 30, 2004. Three legal entities are the bank’s shareholders.

Source: Trend News Agency