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Summary: TransCreditBank Jul 10 Product Image

Summary: TransCreditBank Jul 10

  • Published: July 2010
  • Standard & Poors

FEATURED COMPANIES

Abstract
The ratings on Russia-based TransCreditBank reflect Standard & Poor's Ratings Services' view of the bank's high single-name concentrations, relatively weak capitalization at a time of renewed rapid business expansion, and elevated credit risk in the aftermath of a severe recession in Russia. These weaknesses are partly offset by TransCreditBank's strong business links to and support from its major shareholder, state-owned railway monopoly Russian Railways (JSC) (RZD; BBB/Stable/--), less confidence-sensitive funding than that of its peers, and acceptable core revenue generation. The long-term counterparty credit rating on TransCreditBank incorporates a three-notch uplift above our assessment of the bank's stand-alone credit profile (SACP). We consider TransCreditBank to be a strategically important subsidiary of RZD under our group methodology. With total assets of...

Companies mentioned in this report are: TransCreditBank
Action: Review

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TransCreditBank

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