Fitch puts Denizbank Moscow on watch

Fitch Ratings said it placed CJSC Denizbank Moscow's BBB- long-term issuer default ratings on Rating Watch evolving.

The action follows the announcement by Dexia Group (A+/negative/F1+) that it entered into exclusive negotiations with Sberbank of Russia (BBB/stable) regarding the sale of Dexia's Turkish subsidiary, according to the agency.

The ratings of Dexia Group, Sberbank (BBB/stable) and Denizbank (BBB-/stable) are unaffected by the announcement.

The watch reflects the uncertainty about the bank's role in the broader Sberbank group, the agency noted.

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