S&P: Bank Soyuz on developing watch

Standard & Poor's said the B- long-term counterparty credit rating, B- senior unsecured debt rating and ruBBB- Russia national scale rating on Bank Soyuz remained on CreditWatch, where they were placed with developing implications on Jan. 14. The C short-term counterparty credit rating was affirmed.

"The continued CreditWatch status reflects continuing uncertainties about Bank Soyuz's future development, particularly of its financial profile and business strategy," S&P analyst Maria Malyukova said in a statement.

Ratings reflect substantial government support, the agency said.

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