International ratings agency Moody's has slapped negative outlooks on six major Russian lenders, saying that Russia's own poor prospects have infected its key banking institutions.
Leading lender Sberbank, VTB, Gazprombank, Russian Agricultural Bank, The Agency for Housing Mortgage Lending and Vneshekonombank all saw their long-term debt, issuer and deposit ratings confirmed with negative outlooks, Moody's said in a statement Wednesday.
Moody's set Russia's sovereign bond rating at Baa1 with a negative outlook last Friday, citing
increased susceptibility to geopolitical risk due to escalation of the Ukraine crisis and weak mid-term economic growth prospects.
On Tuesday, Moody's gave Moscow and St. Petersburg negative outlooks, again in a reflection of Russia's wider outlook, while confirming their ratings of Baa1.