Fitch may cut ZAO Standard Bank

Fitch Ratings said it placed ZAO Standard Bank's long-term issuer default rating of BBB+ on Rating Watch negative, along with its short-term issuer default rating of F2 and national long-term rating of AAA(rus).

The review follows news of Standard Bank Group Ltd.'s plans to acquire a 33.3% stake in Troika Dialog Group Ltd. for $200 million and a 100% stake in SB Russia, which would become a subsidiary of Troika.

This deal will end direct control of Standard Bank Group over ZAO Standard Bank and likely diminish the former's propensity to support the Russian bank, Fitch said.

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