Moody's changes outlook on Bank Technique's Caa2 ratings to stable

Moody's Investors Service has today changed the outlook to stable from developing on Bank Technique OJSC's Caa2 long-term local and foreign-currency deposit ratings. Concurrently,Moody's affirmed Bank Technique's standalone E bank financial strength rating (BFSR) , which is equivalent to a baseline credit assessment (BCA) of caa3, and the bank's Caa2 long-term and Not Prime short-term local and foreign-currency deposit ratings.The outlook change reflects the recent stabilisation of Bank Technique's financial profile. The bank has made progress in recovering problem loans and restoring its capital base, enabling it to comply with regulatory capital requirements by year-end 2013.

Moody's rating action is primarily based on Bank Technique's audited financial statements for H1 2013 prepared under consolidated IFRS, as well as the bank's unaudited financial statements for 1 November 2013,prepared in accordance with the non-consolidated local GAAP.

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