Moody’s withdraws ratings of Bank Standard of Azerbaijan

Moody's Investors Service has withdrawn ratings of Bank Standard of Azerbaijan, while the long-term local and foreign currency deposit ratings carry a negative outlook.
Moody's noted that, as of the date of the ratings withdrawal, Standard had no outstanding debts rated by Moody's.
The previous rating action on Standard was on 28 July 2009 when the rating agency downgraded the long-term foreign and local currency deposit ratings of Standard to B3 from B1 and the bank financial strength rating (BFSR) to E from E+.