S&P puts VTB Bank on watch

Standard & Poor's said it placed the BBB long-term counterparty credit rating on JSC VTB Bank, its subsidiary VTB-Leasing and VTB-Leasing's subsidiary VTB-Leasing Finance on CreditWatch with negative implications.

"The CreditWatch placement reflects the likely significant negative impact on VTB's risk-adjusted capital position of its cash acquisition of Bank of Moscow (not rated), uncertainties regarding the asset quality of the newly acquired bank and other acquisition-related execution and integration risks," S&P analyst Ekaterina Trofimova said in a statement.

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