ACRA withdraws the credit rating of Bank JSC MMA due to its merger with Joint-Stock Company Commercial Bank «Solidarnost»

ACRA has withdrawn the credit rating of BB+(RU), outlook “Rating under revision: negative,” previously assigned to Bank Joint Stock Company “Moscow Mortgage Agency” (hereinafter, the Bank). The rating has been withdrawn without its concurrent affirmation, as ACRA has no current information on the financial status of the Bank. The rating withdrawal is based on information from the Federal Tax Service of Russia on the Bank terminating its operations as a separate legal entity after its merger with Joint-Stock Company Commercial Bank «Solidarnost» was completed on August 28, 2020.

Regulatory disclosure

The credit rating was previously assigned to Bank JSC MMA under the national scale for the Russian Federation based on the Methodology for Credit Ratings Assignment to Banks and Bank Groups under the National Scale for the Russian Federation and the Key Concepts Used by the Analytical Credit Rating Agency within the Scope of Its Rating Activities.

The credit rating of Bank JSC MMA was first published by ACRA on August 30, 2018.

ACRA provided no additional services to Bank JSC MMA. No conflicts of interest were discovered in the course of credit rating assignment.

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