13 May 2004 02:17
Fitch assigns National ratings to 13 Russian banks
MOSCOW. May 13 (Interfax) - Fitch Ratings reported Thursday that it had assigned National Long-term ratings to 13
Russian banks as follows: Absolut Bank: 'BB+(rus)'; Ak Bars Bank: 'BB(rus)'; Bank Avangard:
'BB+ (rus)'; Bank Evrofinance-Mosnarbank: 'BBB(rus)'; Bank Zenit: 'BBB minus( rus)'; BIN
Bank: 'BB minus(rus)'; CentroCredit Bank: 'B+(rus)'; Bank Credittrust: 'B+(rus)'; MDM
Bank: 'A(rus)'; Moscow Bank for Reconstruction and Development 'BB+(rus)'; NOMOS-Bank:
'BBB(rus)'; Probusinessbank: 'BB+(rus)' and Uraltransbank: 'BB+(rus)'.
The banks' National ratings reflect their relative creditworthiness to each other as well as to the Russian
issuers in local currency in both the banking and non-banking sectors. All of the above banks are also rated by Fitch on
the international rating scale and their assigned National ratings are consistent with the level of implied
international local currency ratings for each bank in the list. However, greater credit differentiation is available on
the National rating scale.
"The new National ratings for the Russian banks are a further step by Fitch towards expanding the application of
its National rating scale in Russia introduced in December 2003", says Natasha Page, Managing Director and head of
Fitch CIS office in Moscow. "We are continuing to work on a number of National ratings in the corporate, banking
and regional sectors in this country and anticipate strong future demand for these ratings from Russian issuers and
investors as the domestic capital markets continue to mature," she adds.
Other National ratings published by Fitch in Russia are Russia's rating of 'AAA(rus)' and Lipetsk
Oblast's National rating of 'A+(rus)'. The agency also rates 45 issuers in Russia and a further 25
issuers in the rest of the CIS on the international rating scale. [RU ASIA EUROPE EEU EMRG BNK AAA] me
[Interfax] |
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