credit rating withdrawal rationale
The Analytical Credit Rating Agency (ACRA) has withdrawn the AAA(RU) credit rating, outlook Stable, which was previously assigned to COMMERZBANK (EURASIJA) AO, due to contract expiration. The rating has been withdrawn without its concurrent affirmation.
regulatory disclosure
The credit rating was previously assigned to COMMERZBANK (EURASIJA) AO 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, Methodology for Analyzing Rated Entities Associated with a State or a Group, and the Key Concepts Used by the Analytical Credit Rating Agency Within the Scope of Its Rating Activities.
The creditworthiness assessment of the supporting entity was previously determined based on the principles of the Methodology for Assigning Credit Ratings to Banks and Banking Groups under the International Scale, Methodology for Credit Rating Assignment to Sovereign Entities under the International Scale and the Methodology for Mapping Credit Ratings Assigned under ACRA’s International Scale to Credit Ratings Assigned under ACRA’s National Scales.
The credit rating of COMMERZBANK (EURASIJA) AO was published by ACRA for the first time on October 12, 2017.
The credit rating was assigned based on data provided by COMMERZBANK (EURASIJA) AO, information from publicly available sources, and ACRA’s own databases. The rating analysis was performed using the IFRS financial statements of COMMERZBANK (EURASIJA) AO and the financial statements of COMMERZBANK (EURASIJA) AO drawn up in compliance with Bank of Russia Ordinance No. 6406-U dated April 10, 2023. The credit rating is solicited and COMMERZBANK (EURASIJA) AO participated in its assignment.
In assigning the credit rating, ACRA used only information, the quality and reliability of which were, in ACRA’s opinion, appropriate and sufficient to apply the methodologies
ACRA provided no additional services to COMMERZBANK (EURASIJA) AO. No conflicts of interest were discovered in the course of credit rating assignment.
