S&P ups Raiffeisenbank

Standard & Poor's said it raised its long-term counterparty credit rating on Raiffeisenbank ZAO to BBB from BBB-, and affirmed the A-3 short-term and ruAAA Russia national scale ratings.

The outlook is stable.

The upgrade reflects a revision of the bank's group status to core from strategically important, S&P said.

The long-term rating is four notches higher than its stand-alone credit profile, reflecting the likelihood of almost certain probability of extraordinary parental support, the agency said.

The ratings also reflect the bank's satisfactory core revenue generation, relatively limited risk appetite in a Russian context, good capitalization and adequate liquidity, S&P added.

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