On 25 April 2012, Moody's Investors Service downgraded the ratings of Nova KBM from Ba1/Non-Prime/D- to Ba2/Non-Prime/E+. Nova KBM was assigned a long-term and a short-term bank deposit rating of Ba2 and Non-Prime, respectively. The Bank’s financial strength rating was affirmed at E+. The outlook is negative.
Moody's Investors Service has downgraded Nova KBM rating due to sharp asset-quality deterioration in the banks’ loan portfolios and high provisioning needs that have eroded the capital buffers and loss-absorption capacity.
