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Moody’s upgrades long-term debt and deposit ratings of Tinkoff Bank to B1 from B2

22.02.2017

TCS Group Holding PLC (TCS LI) (the «Group»), Russia’s leading provider of online retail financial services, including Tinkoff Bank and Tinkoff Insurance, today announces that Moody’s upgraded Tinkoff Bank’s (Tinkoff) long-term local- and foreign-currency deposit ratings and local-currency senior unsecured debt ratings to B1 from B2, outlook — stable.

In its announcement on the rating action, Moody’s highlighted Tinkoff Bank’s proven robust financial performance through the credit cycle in 2014–2016 owing to the resilience of its branchless business model, and material improvements in the bank’s profitability in recent quarters.

The Moody’s Investors Service press release announcing the rating action is available at https://www.moodys.com/research/Moodys-upgrades-long-term-debt-and-deposit-ratings-of-Tinkoff-PR_362400.

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