On July 20, 2019, the rating agency Moody’s has assigned a long-term global local-currency deposit rating of Caa1 and a foreign-currency deposit rating of Caa2. The Bank's long-term global scale ratings carry a stable outlook, which reflects the stable outlook on the sovereign rating and Moody’s expectation of the Bank's steady performance over the next 12-18 months.
The Baseline Credit Assessment of “caa1” reflects the interlinkage between the bank’s standalone credit fundamentals and sovereign creditworthiness, modest profitability and bank’s high level of liquid assets. Moody’s also expects that the bank’s capitalization, liquidity and profitability levels will remain stable within the next 12-18 months.
In Moody’s opinion, Oschadbank has sufficient liquidity to meet its eurobond payments in 2019-20, since the maturity of the government bonds portfolio matches the maturity and currency of eurobonds, mitigating refinancing and currency risks. Oschadbank’s combined liquidity score of “caa1” benefits from the Bank’s ample liquidity buffer.