Research Update: Russian ZAO UniCredit Bank Ratings Affirmed At 'BBB/A-3' On Bank Criteria Change; Outlook Stable Dec 11
- ID: 2030778
- December 2011
- Region: Russia
- Standard & Poors
Following a review of ZAO UniCredit Bank under Standard & Poor's revised bank criteria (published on Nov. 9, 2011), we have affirmed our long- and short-term ratings on ZAO UniCredit Bank at 'BBB/A-3'. The outlook is stable. The ratings reflect our view that ZAO UniCredit Bank is a highly strategic subsidiary of UniCredit group, resulting in a long-term rating one notch below that on its parent, subject to a cap at the level of the Russian sovereign foreign currency rating. The bank's stand-alone credit profile reflects our 'bb' anchor for a commercial bank operating only in Russia, the bank's strong business position, adequate capital and earnings, adequate risk position, average funding, and adequate liquidity. The stable outlook reflects that of...
Companies mentioned in this report are:
- ZAO UniCredit Bank
Action: Outlook: Stable
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Product Type: Research Update
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