Fitch cuts view on two Russian banks to negative

Fitch Ratings said it revised the outlook on the Moscow Bank for Reconstruction and Development (rated B+) and Dalcombank (rated B+) to negative from stable. Their ratings are affirmed.

The change in outlook follows the outlook change on on Sistema JSFC, the majority shareholder of Moscow Bank and the 100%-owner of Dalcombank, Fitch said.

The ratings reflect the strong propensity of Sistema to provide support to the banks in case of need, Fitch said.

However, Sistema's ability to provide support could be hampered in future, the agency said.

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