In our opinion, Russia-based CB Intercommerz Ltd. has a weak business position, moderate capital and earnings, a weak risk position, average funding, and adequate liquidity. We are assigning our 'B-' long-term and 'C' short-term counterparty credit ratings and 'ruBBB-' Russia national scale rating to CB Intercommerz Ltd. The stable outlook reflects our expectation that the bank will continue strengthening its franchise, while keeping capitalization and asset quality metrics at current levels. We expect that its funding and liquidity profile will remain broadly unchanged. On March 7, 2012, Standard & Poor's Ratings Services assigned its 'B-' long-term and 'C' short-term counterparty credit ratings to Russia-based CB Intercommerz Ltd. (Intercommerz). The outlook is stable. At the same time, we assigned our 'ruBBB-'...
Companies mentioned in this report are: CB Intercommerz Ltd.
Action: New Rating
Action: Outlook: Stable
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Product Type: Research Update
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