S&P: Impexbank on positive watch

Standard & Poor's said it placed its B- long-term and C short-term counterparty credit ratings on JSC Impexbank (Impex) on CreditWatch with positive implications.

At the same time, S&P said it affirmed its A-1 short-term counterparty credit rating on Raiffeisen Zentralbank Österreich (RZB).

S&P noted the rating actions follow the announcement that Raiffeisen International Bank-Holding AG has reached a shareholders' agreement to acquire 100% ownership of Impex.

The agency added the ratings on Impex are likely to be raised if the transaction is approved and completed, adding the extent of the rating change will depend on the development of Impex's financial profile and strategy and on Raiffeisen's future commitment to and strategic involvement in Impex.

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