S&P lowers Troika Dialog

Standard & Poor's said it lowered the long-term counterparty credit rating on Troika Dialog Group Ltd. to B+ from BB- and its Russia national scale rating to ruA from ruAA-.

The B short-term counterparty credit rating was affirmed.

The outlook remains negative.

"The rating action reflects Troika's deteriorated operating environment, which is leading to a decline in the group's business volumes and funding position, and as a result, in profitability," S&P analyst Ekaterina Trofimova said in a statement.

Ratings are based on the creditworthiness of the Troika Dialog group companies, which form one of Russia's leading brokerage, asset management and investment banking groups, the agency said.

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