S&P lifts Alfa-Bank

Standard & Poor's said it raised its long-term issuer credit rating on Alfa-Bank OJSC to BB+ from BB and affirmed the short-term rating at B.

The agency said it also raised the Russia national scale rating on Alfa-Bank to ruAA+ from ruAA.

At the same time, the agency said it affirmed the BB-/B long- and short-term ratings on ABH Financial Ltd., a non-operating holding company of OJSC Alfa-Bank. The outlook on both entities is stable.

S&P said it believes that the Alfa-Bank's risk position has improved over the past three years, as demonstrated by a track record of credit costs and nonperforming loans below the sector average. The agency said it believes this improvement is to a large extent due to Alfa-Bank's efficient risk management framework, notably for recoveries and is sustainable over time.

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