S&P: Rosbank up to positive

Standard & Poor's said it revised its outlook on Rosbank OJSC JSCB to positive from stable.

At the same time, the agency said it affirmed its BB+ long-term and B short-term counterparty credit ratings on the bank.

In addition, the ruAA+ Russia national-scale rating was affirmed.

"The outlook revision reflects its expectation that Rosbank's asset quality and financial performance will gradually improve in line with a recovering economic climate, its reduced risk appetite, and strengthening risk management," said S&P credit analyst Ekaterina Trofimova.

The agency said that the ratings on the bank incorporate its view of the risky operating environment in Russia, as well as the bank's weak capitalization and poor profitability.

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