TKB has ceased the cooperation with Moody's agency

14.10.2014

 

JSC "TRASTA KOMERCBANKA" (TKB) has ceased its cooperation with the international credit rating agency Moody’s Investors Service. The process of the cessation has not affected the bank’s ratings and their outlooks, they have remained unchanged. 

TKB has made a decision to cease temporary the use of services of the international credit rating agency Moody`s Investors Service. The main reason for such a decision is the situation in international financial markets, which at present is not favourable for entering the syndicated lending market. 

“The management board of TKB decided to cease the cooperation with the international credit rating agency Moody`s Investors Service because of the current situation in the financial markets. In the present conditions the cooperation with the rating agency Moody`s is not a priority, because it does not bring the expected results, but requires tangible material costs. In the future, TKB will continue to inform its clients, partners, and also the authorities that regulate banking sector about the bank’s performance results and future plans,” told Gundars Grieze, Chairman of the Board. 

Mr. Grieze concedes that in future the management board of TKB may reconsider its decision on ceasing the cooperation with the rating agency Moody`s which has proved its significant role in the conditions of brisker syndicated lending environment


Marina ─╗ebedeva
Department of Public Relations

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