Fitch ups Credit Bank of Moscow notes

Fitch Ratings said it affirmed Credit Bank of Moscow's long-term issuer default ratings at BB- and viability rating at b+.

The agency also affirmed Bank Saint Petersburg OJSC's long-term issuer default ratings at BB-.

The outlooks are stable.

Fitch also upgraded Credit Bank of Moscow’s perpetual notes to CCC+ from CCC and removed them from rating watch positive. This follows Fitch’s March introduction of its Bank Rating Criteria, which among other things expanded the rating scale with the introduction of “+” and “-” modifiers for the CCC rating category.

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