Moody's downgrades Imeksbank to 'Caa2'

In a press release yesterday, Moody’s Investor Service announced that it lowered the national and foreign currency debt rating of Imeksbank from ‘B3’ to ‘Caa2.’ The lender’s financial stability rating was also cut, from ‘E+’ to ‘E.’ Moody’s said the move was related to its failure to meet a put option on its Series A local bond issue.