S&P: Alfa Bank up to positive

Standard & Poor's said it revised its outlook on Russia-based Alfa Bank to positive from stable, reflecting the bank's good prospects to expand its franchise and increase business diversification, as well as the continued and demonstrated support of shareholders.

At the same time, the B long-term and C short-term counterparty credit ratings and the ruA+ Russia national scale rating on the bank were affirmed.

S&P said the ratings continue to be constrained by the bank's considerable single-party concentrations and hefty cost base, as well as by the still-high level of operating risk for all banks in Russia.

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