Fitch upgraded the ratings of Rosbank
- 19 August
An international rating agency Fitch Ratings upgraded a long-term issuer default rating of Rosbank in national and foreign currency from BBB- to BBB, a short-term issuer default rating in foreign currency from F3 to F2, a long-term rating for senior unsecured bonds was upgraded from BBB- to BBB and a short-term rating for senior unsecured bonds was upgraded from F3 to F2.
This increase was possible due to the upgrade of country rating threshold from BBB- to BBB that consequently led to the upgrade of a long-term issuer default rating of the Russian Federation in national and foreign currency from BBB- to BBB. Issuer default rating of the bank reflects the Fitch opinion on the potential support that the credit organization will receive from its shareholders. The beneficial owner of Rosbank is Societe Generale S.A. (“SG”, “A”/ the outlook is “Stable”, SG owns 99, 95% of Rosbank).
Read the full Fitch press-release by following the link.
Rosbank was also assigned with the highest credit ratings of Russian rating agencies of ACRA and RAEX (Expert RA) on the level AAA (RU) and ruAAA respectively, the outlook is “stable” and an international agency Moody’s on the level Baa3 (a long-term deposit rating) with a stable outlook.