Fitch rates Standard Bank BBB+

Fitch Ratings said it assigned ZAO Standard Bank (SB Russia) a long-term issuer default rating of BBB+ with a negative outlook. SB Russia is a fully-owned subsidiary of Standard International Holdings SA which is rated A- with negative outlook.

There is a high probability of support given its parent's rating and strong propensity to provide assistance, Fitch said.

The ratings factor in the bank's relatively small size, high concentrations on both sides of its balance sheet and the significant operational risk related to the bank's derivatives trading, the agency said.

The rating also considers the bank's sound credit quality and advanced risk management by local market standards, Fitch said.

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