Research Update: Russia-Based Sovcombank Upgraded To 'B/ruBBB+' On Bank Criteria Change; Short-Term 'C' Affirmed; Outlook Stable Dec 11
- Language: English
- Published: December 2011
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
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.