• 1-800-526-8630U.S. (TOLL FREE)
  • 1-917-300-0470EAST COAST U.S.
  • +353-1-416-8900REST OF WORLD

Research Update: Russian Rosbank L-T CCR Raised To 'BB-'; S-T And NSR 'B/ruAA-' Ratings Affirmed; Outlook Pos Sep 07

  • ID: 1752054
  • September 2007
  • Region: Russia
  • Standard & Poors


  • Rosbank OJSC JSCB
  • Societe Generale
  • MORE

On Sept. 5, 2007, Standard & Poor's Ratings Services raised its long-term counterparty credit rating on Russian Rosbank OJSC to 'BB-' from 'B+'. At the same time, the 'B' short-term counterparty credit and 'ruAA-' Russian national scale ratings were affirmed. The outlook remains positive. The upgrade reflects Rosbank's improving commercial and financial profile. Support from minority shareholder French group Société Générale (SocGen; AA/Stable/A-1+), Rosbank's granular loan portfolio, and our expectation of higher core profitability in the medium term support the bank's current ratings. The bank's sizable concentration in funding, challenges in managing an extensive distribution network, and the high level of competition pressuring the margins constrain the ratings. With total assets of $10.5 billion at March 31, 2007, Rosbank is...

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

Action: Affirmed
Action: Upgraded

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured READ MORE >

Note: Product cover images may vary from those shown

- Rosbank OJSC JSCB
- Societe Generale

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


Our Clients

Fluidigm Corporation Apple, Inc. CEVA Santé Animale Abbott Laboratories Ltd. Merck Group Allergan Inc. Pfizer, Inc.