Research Update: Russia-Based GLOBEXBANK Upgraded To 'BB' On Bank Criteria Change; Outlook Stable Dec 11
- Language: English
- Published: December 2011
Following a review of Sviaz-Bank under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have raised our long-term rating on the bank to 'BB' from 'BB-' and the Russia national scale rating to 'ruAA' from 'ruAA-'. We have affirmed the short-term rating at 'B'. The outlook is stable. Our ratings on Sviaz-Bank reflect our 'bb' anchor for a commercial bank operating only in Russia, the bank's moderate business position, weak capital and earnings, moderate risk position, average funding, and adequate liquidity. We consider Sviaz-Bank to be a strategically important subsidiary for Vnesheconombank and incorporate a three-notch uplift above the bank's stand-alone credit profile into the long-term rating because of our expectations for support from the parent...
Companies mentioned in this report are: Sviaz-Bank
Action: Outlook: Stable
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Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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