April 23, 2018 / 5:12 PM / a month ago

Russian banks can choose not to downgrade sanctioned companies - cenbank

MOSCOW, April 23 (Reuters) - Russia’s central bank said on Monday it has decided to permit Russian banks not to raise risk levels when assessing the creditworthiness of companies sanctioned by foreign countries.

“When credit institutions classify loans, other assets and requirements of a credit nature, provided to companies whose financial situation ... has worsened as a result of the introduction of (sanctions) ... the credit organisation may decide not to downgrade its assessment,” the bank said in a statement. (Reporting by Elena Fabrichnaya and Polina Devitt; Writing by Polina Ivanova Editing by Alison Williams)

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