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Research Update: Russian Sviaz-Bank Upgraded To 'BB' And 'ruAA' On Bank Criteria Change; Short-Term 'B' Affirmed; Outlook Stable Dec 11

  • ID: 2029950
  • December 2011
  • Region: Russia
  • Standard & Poors

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: Affirmed
Action: Outlook: Stable
Action: Upgraded

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