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Russia-Based InterProgressBank Assigned 'B-/C' And 'ruBBB' Ratings, Outlook Stable Dec 11

  • ID: 2035158
  • December 2011
  • Standard & Poors
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We are assigning 'B-/C' counterparty credit ratings and a 'ruBBB' Russia national scale rating to InterProgressBank (IPB). The outlook is stable. The ratings on IPB reflect the 'bb' anchor for a commercial bank operating only in Russia, our assessment of its weak business position, weak capital and earnings, moderate risk position, average funding, and adequate liquidity. The stable outlook balances our view of the bank's currently limited customer franchise and rapid loan growth with its recently augmented capital and stable customer deposit base. MOSCOW (Standard & Poor's) Dec. 28, 2011--Standard & Poor's Ratings Services said today it assigned its 'B-' long-term and 'C' short-term counterparty credit ratings to Russia-based InterProgressBank (IPB). We also assigned a 'ruBBB' Russia national scale rating....

Companies mentioned in this report are: InterProgressBank
Action: New Rating

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Research type: News
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