S&P upgrades Interfin Trade

Standard & Poor's said it raised its long-term counterparty credit rating on Russia-based Interfin Trade Financial Co. to CCC from CCC-, raised its Russia national scale rating to ruB- from ruCCC+ and affirmed its C short-term counterparty credit rating.

The outlook is stable.

S&P said the upgrade reflects Interfin Trade's closer integration with parent Unicor Managing Co. and low leverage, as well as the consistent growth of the Russian securities market.

The ratings remain constrained, however, by Interfin Trade's narrow related-party customer base, small size and short track record, as well as by the high sensitivity of its financial performance to the volatile domestic securities market, the agency said.

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