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Banking Industry Country Risk Assessment On Russia Revised To Group 7 From Group 8 Aug 08
Standard & Poors, Aug 2008
Abstract
Standard & Poor's Ratings Services has revised its Banking Industry Country Risk Assessment (BICRA) on The Russian Federation to Group 7 from Group 8. At the same time, Standard & Poor's changed its assessment of the Russian government's propensity to provide support to private sector banks to 'supportive' from 'support uncertain.' Standard & Poor's also affirmed its estimate of the incidence of gross problematic assets (GPAs) in the Russian financial system in an economic recession at 35%-50%. These actions reflect Russia's increased political and regulatory commitment to ensure the stability of the banking sector, as highlighted by the Central Bank of Russia's effective management of liquidity pressures related to the global credit crunch since summer 2007. Certain structural factors also...
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: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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