Fitch lifts three CIS banks

Fitch Ratings said it upgraded the subordinated debt ratings of Kazakhstan's Kazkommertsbank to B- with a recovery rating of RR5 from CCC with a recovery rating of RR6, JSC Russian Standard Bank to B with a recovery rating of RR5 from B- with a recovery rating of RR6 and Russia's Locko-bank to expected B with a recovery rating of RR5 from expected B- with a recovery rating of RR6.

JSC The State Export-Import Bank of Ukraine's (Ukreximbank) subordinated debt rating were affirmed at CCC and the recovery rating on this debt was revised to RR5 from RR6.

The upgrades follow the recent publication of the agency's revised criteria for bank subordinated and hybrid securities.

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