AO UniCredit Bank
Summary:
Thomas Murray, a specialist custody rating, risk management and research agency, has maintained the CSD rating for Russia’s National Settlement Depository (NSD) at AA-, which translates as ‘very low overall risk’.
Tue, 20/01/2015
The rating of AA- affirmed by Thomas Murray for the National Settlement Depository (NSD) includes the following components:
- Overall Rating AA-
- Asset Commitment AA-
- Liquidity Risk A+
- Counterparty Risk AA-
- Asset Safety AA-
- Asset Servicing AA-
- Financial Risk AA
- Operational Risk AA-
- Governance&Transperancy Risk AA-
The overall rating of ‘AA-’ reflects a weighted average of the eight risk components and means a very low risk level with ‘Stable’ outlook. Governance & Transparency Risk was upgraded from A+ to AA-. The increase of this rating is the result of the changes introduced by the Board of Directors of NSD including that currently one-third of the Board is composed of independent directors. Furthermore, Customer committee was created to discuss Corporate Actions developments being key direction of NSD activity.
Impact on investors: More protection to investors’ assets.