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Banking Industry Country Risk Assessment On Russia Raised To Group 8 From Group 9 Jun 07
Standard & Poors, June 2007
Abstract
PARIS (Standard & Poor's) June 4, 2007--Standard & Poor's Ratings Services said today it had raised its Banking Industry Country Risk Assessment (BICRA) on The Russian Federation to Group 8 from Group 9. At the same time, Standard & Poor's revised its estimate of the incidence of gross problematic assets (GPAs) in the Russian financial system under a reasonable (but not catastrophic) scenario of economic recession to 35%-50% from 50%-75%. These actions reflect the continued high economic growth and macroeconomic improvements in Russia, which have reduced the high credit and business risks for domestic banks. The improving credit profile of The Russian Federation (foreign currency BBB+/Stable/A-2; local currency A-/Stable/A-2) has mitigated a major concern of the 1990s, namely that of...
Action: General Comment
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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