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Rosbank 'B+/B' And 'ruAA-' Russia National Scale Ratings Affirmed; Outlook Positive Jul 07

  • ID: 1752032
  • July 2007
  • Region: Russia
  • Standard & Poors
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  • Rosbank OJSC JSCB
  • Societe Generale
  • MORE

MOSCOW (Standard & Poor's) July 5, 2007--Standard & Poor's Ratings Services said today that it affirmed its 'B+/B' counterparty credit ratings on Russia-based Rosbank OJSC (Rosbank). At the same time, the 'ruAA-' Russia national scale rating was also affirmed. The outlook is positive. The affirmation reflects Société Générale's (SocGen; AA/Stable/A-1+) continued strategic interest in Rosbank. SocGen's existing holding in Rosbank is 20% less one share. "The ratings on Rosbank already incorporate operational and managerial support from SocGen, which we reflect by adding one notch to our stand-alone credit assessment of Rosbank," said Standard & Poor's credit analyst Eugene Tarzimanov. The positive outlook reflects the fact that we consider it likely that SocGen will acquire a majority ownership in Rosbank before...

Companies mentioned in this report are:
- Rosbank OJSC JSCB
- Societe Generale

Action: Affirmed
Action: Outlook: Positive

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

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- Rosbank OJSC JSCB
- Societe Generale

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3 of 3
Note: Product cover images may vary from those shown