International

Moody's Investors Service has today taken rating actions on six Russian banks -- Bank Otkritie Financial Corporation PJSC, Promsvyazbank, Bank Saint-Petersburg OJSC, Vozrozhdenie Bank, Zenit Bank and Center-Invest Bank. These actions reflect the deterioration in the operating environment in Russia (Ba1 negative) but are not influenced by the recent downgrade of Russia's sovereign credit rating to Ba1 from Baa3.

Specifically, Moody's lowered the standalone BFSRs and downgraded the long-term debt and deposit ratings of all banks except for Bank Otkritie Financial Corporation PJSC, where Moody's lowered the standalone BFSR but confirmed the long-term debt and deposit ratings, due to the incorporation of one notch of government (systemic) support uplift in Bank Otkritie Financial Corporation's 's long-term ratings. Please refer to the end of the press release for a detailed list of affected ratings.