S&P ups Alfa-Bank outlook to positive

Standard & Poor's said it revised its outlook on Alfa-Bank Ukraine to positive from stable and raised the Ukraine national-scale rating to uaBB from uaBB-.

At the same time, the CCC+ long-term and C short-term counterparty credit ratings were affirmed, the agency said.

"The outlook revision reflects Alfa-Bank's improving liquidity, due to an influx of customer deposits, a sustained strong market position, and recently supported capitalization amid the gradually stabilizing economy in Ukraine," said S&P credit analyst Maria Malyukova.

The ratings continue to be constrained by the bank's weak asset quality and fragile profitability, the agency added.

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