Moody's Lowers Rating Of Orient Express Bank To Caa1

Moody's Lowers Rating of Orient Express Bank to Caa1

Moody's downgraded long-term bank deposit ratings of Orient Express Bank (Vostocny) from B3 to Caa1, the rating agency said Friday

MOSCOW (UrduPoint News / Sputnik - 15th March, 2019) Moody's downgraded long-term bank deposit ratings of Orient Express Bank (Vostocny) from B3 to Caa1, the rating agency said Friday.

According to Moody's, the long-term forecast in negative.

The bank has been in the spotlight recently due to the detention of US investor Michael Calvey, the founder of Baring Vostok, in Russia.

Calvey was detained in Moscow alongside five other suspects in February over suspected complicity in the theft of 2.5 billion rubles (over $38 million) from Vostochny Bank.

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