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"Beynəlxalq Bankın reytinqlərinin düşməsi müvəqqəti haldır"

iç səhifə xəbər başlığı altı (mobil)_31
"Beynəlxalq Bankın reytinqlərinin düşməsi müvəqqəti haldır"
iç səhifə xəbər şəkil altı-2 (mobil)_32

Azərbaycan Beynəlxalq Bankının (ABB) İdarə Heyətinin sədri Xalid Əhədov mayın 23-də Londonda bankın xarici kreditorları ilə keçirilmiş görüşdən dərhal sonra əvvəlcə Fitch, ardınca bu gün Moody’s beynəlxalq reytinq agentliyinin ABB-nin reytinqlərini aşağı salmasına bir daha münasibət bildirib.

 

Reklam_3_11

Onun sözlərinə görə, bank rəhbərliyi tərəfindən əvvəlcədən də bəyan edildiyi kimi bu, gözlənilən idi:

 

“Restrukturizasiya prosesi keçən bank üçün bu, normal bir qərardır. Beynəlxalq reytinq agentlikləri öz ənənəvi standartlarına və praktikalarına əsaslanaraq ABB-nin reytinqlərini müvəqqəti aşağı saldılar. Bu hal qısamüddətlidir. Bankın maliyyə mövqeləri gücləndikcə beynəlxalq agentliklər öz qərarlarına yenidən baxaraq bankın reytinqlərini yenidən yüksəldəcəklər”.

 

X.Əhədov vurğulayıb ki, bu qərarların bankın fəaliyyətinə hər hansı təsiri yoxdur. ABB bütün bank əməliyyatlarını, müştərilərə xidməti normal qaydada davam etdirir.

 

Onun sözlərinə görə, bankın xarici öhdəliklərinin restrukturizasiyası ABB-nin müştərilərinin və tərəfdaşlarının maraqlarına uyğundur. Bu proses bankın Azərbaycanda və xaricdə yenidən güclənməsini, maliyyə mövqelərinin möhkəmlənməsini təmin edəcək.

 

Bir neçə dəqiqə əvvəl,  "Moody`s" Bankın xarici və yerli valyutada uzunmüddətli depozit reytinqini "B1" səviyyəsindən "Caa2" səviyyəsinə endirib.

 

Depozit reytinqinin aşağı salınmasını agentlik bu cür izah edib:

 

"Bundan öncə hökumətin banka maliyyə yardımının mümkünlüyü "çox yüksək" səviyyədə qiymətləndirirdiksə, hal-hazırda bunu "yüksək" kimi qiymətləndiririk. Hökumət və bankın birgə açıqlamasında restrukturizasiya prosesinin fiziki şəxslərin əmanətlərinə və korporativ depozitlərə təsiri etməyəcəyi bəyan olunub".

 


 

Moody's takes rating actions on International Bank of Azerbaijan following
announced debt restructuring terms



London, 26 May 2017 -- Moody's Investors Service said today that the
foreign-currency senior unsecured debt rating of International Bank of
Azerbaijan (IBA) is unaffected at Caa3, under review for downgrade. The
rating agency downgraded the bank's long-term foreign- and
local-currency deposit ratings to Caa2 from B1 and changed the review to
direction uncertain from review for downgrade. IBA's baseline credit
assessment (BCA) of ca was has also been placed on review with direction
uncertain. In addition, Moody's downgraded IBA's long-term counterparty
risk assessment (CRA) to Caa1(cr) from Ba3(cr) and changed the review to
direction uncertain from review for downgrade. IBA's Not Prime short-term
foreign- and local-currency deposit ratings and Not Prime(cr) short-term
CRA were affirmed.

A full list of affected ratings can be found at the end of this press
release.

RATINGS RATIONALE

IBA's foreign-currency debt rating of Caa3 reflects the likely loss for
creditors as a result of a proposed debt restructuring. Based on the
terms of this restructuring announced on 23 May, which proposes several
options to investors including a proposed exchange ratio of 0.8 in
sovereign bonds against existing claims, Moody's estimates the loss to be
at about 20%, which is consistent with the current Caa3 debt rating. The
rating agency maintains the review for possible downgrade on the bank's
debt ratings, which was opened on 15 May. In Moody's view, given the
significant weight of Azerbaijani government-related entities amongst the
creditors, coupled with the threat of a liquidation of the bank should
the proposal be rejected, there is little prospect for creditor losses to
be less than the agency now assumes. However, there remains a possibility
of higher losses, should the proposal fail and the authorities proceed to
liquidate the bank.

The downgrade of the bank's deposit ratings (which cover only uninsured
deposits under Moody's definitions) to Caa2 from B1 reflects Moody's
view that the probability of government support is lower than previously
anticipated, and the agency now considers this probability to be 'High'
rather than 'Very High'. The government and the bank have officially
stated that individual and corporate deposits are not affected by the
restructuring. Insured deposits at IBA include all retail deposits
without an interest cap. Moody's expects further support for the bank
after the restructuring; however, the change in public policy and the
possibility of a liquidation make this less certain than before. As a
result, the rating agency now incorporates two notches of government
support uplift in its long-term deposit ratings.

IBA's BCA of ca continues to reflect its default on foreign debt, driven
in turn by its negative capitalization according to preliminary IFRS
results for 2016.

The reviews with direction uncertain on the BCA and deposit ratings
reflect two diverging scenarios. In the event of the successful
completion of the debt restructuring, the bank's capital and financial
metrics will improve, potentially leading to a higher BCA and deposit
ratings. On the other hand, should creditors reject the restructuring
and the authorities commence a liquidation of the bank, the BCA would be
downgraded to c and uninsured deposits would likely be exposed to higher
losses.

The rating agency expects to resolve the reviews on IBA's ratings
following the final decision of the creditors regarding debt
restructuring. The claimants' meeting is scheduled for 13 July.

WHAT COULD MOVE THE RATINGS DOWN / UP

If creditors accept the restructuring plan, the bank will be
recapitalized, and other elements of the restructuring plan would lead to
improvements in prospects for its asset quality, profitability, funding
and liquidity. This would likely lead to a higher BCA and in turn,
potentially higher long-term deposit ratings.

If creditors do not accept the restructuring plan, the bank may be placed
into liquidation, resulting in a downgrade of the BCA, higher losses for
the foreign currency debt and likely losses for uninsured deposits, and
hence lower ratings.

Should the proposed restructuring of foreign debt be completed, Moody's
would expect to withdraw its foreign currency debt issues' ratings and
assign new ratings to any new debt issued by IBA.

LIST OF AFFECTED RATINGS

Issuer: International Bank of Azerbaijan

Downgrade and Placed Under Review Direction Uncertain from Ratings Under
Review Downgrade :

....LT Bank Deposits (Local & Foreign Currency), Downgraded to Caa2
Rating Under Review from B1 Rating Under Review

....LT Counterparty Risk Assessment, Downgraded to Caa1(cr) from Ba3(cr)

Affirmed and Placed Under Review Direction Uncertain:

.... Baseline Credit Assessment, currently ca

Affirmations:

....ST Bank Deposits (Local & Foreign Currency), Affirmed NP

....Adjusted Baseline Credit Assessment, Affirmed ca

....ST Counterparty Risk Assessment, Affirmed NP(cr)

PRINCIPAL METHODOLOGY

The principal methodology used in these ratings was Banks published in
January 2016. Please see the Rating Methodologies page on www.moodys.com
for a copy of this methodology.

REGULATORY DISCLOSURES

For ratings issued on a program, series or category/class of debt, this
announcement provides certain regulatory disclosures in relation to each
rating of a subsequently issued bond or note of the same series or
category/class of debt or pursuant to a program for which the ratings are
derived exclusively from existing ratings in accordance with Moody's
rating practices. For ratings issued on a support provider, this
announcement provides certain regulatory disclosures in relation to the
credit rating action on the support provider and in relation to each
particular credit rating action for securities that derive their credit
ratings from the support provider's credit rating. For provisional
ratings, this announcement provides certain regulatory disclosures in
relation to the provisional rating assigned, and in relation to a
definitive rating that may be assigned subsequent to the final issuance
of the debt, in each case where the transaction structure and terms have
not changed prior to the assignment of the definitive rating in a manner
that would have affected the rating. For further information please see
the ratings tab on the issuer/entity page for the respective issuer on
www.moodys.com.

For any affected securities or rated entities receiving direct credit
support from the primary entity(ies) of this credit rating action, and
whose ratings may change as a result of this credit rating action, the
associated regulatory disclosures will be those of the guarantor entity.
Exceptions to this approach exist for the following disclosures, if
applicable to jurisdiction: Ancillary Services, Disclosure to rated
entity, Disclosure from rated entity.

Regulatory disclosures contained in this press release apply to the credit
rating and, if applicable, the related rating outlook or rating review.

Please see www.moodys.com for any updates on changes to
the lead rating analyst and to the Moody's legal entity that has issued
the rating.

Please see the ratings tab on the issuer/entity page on www.moodys.com
for additional regulatory disclosures for each credit rating.

 

26.05.2017 14:18

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