S&P ups CentroCredit to stable

Standard & Poor's said it revised the outlook on CentroCredit Bank JSC to stable from negative.

The agency also said it affirmed its B- long-term and C short-term counterparty credit ratings, as well as its ruBBB- Russia national scale rating.

The outlook change reflects the reduction in CentroCredit's risk exposures, especially given the easing of tough economic conditions in Russia, S&P said.

The bank also maintains solid levels of capitalization and bottom-line earnings, the agency said.

The ratings also consider the bank's strong reliance on market-sensitive income and an assessment that its funding profile remains vulnerable and concentrated, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.