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Published on 4/1/2010 in the Prospect News Emerging Markets Daily.

S&P: Stable view for 14 Russia banks

Standard & Poor's said it revised the outlook on the long-term counterparty credit ratings on 14 financial institutions in Russia to stable from negative.

The action reflects S&P's view that operating conditions for financial institutions in Russia are gradually stabilizing, the agency said.

The growth in problem loans has peaked, S&P said. Liquidity has improved and the prospects are brighter for refinancing, the agency said.

All of the banks had outlooks upgraded to stable.

Commercial Bank Petrocommerce OJSC's counterparty credit rating was affirmed at B+ and Russia national scale at ruA.

Ural Bank for Reconstruction and Development's counterparty credit rating was affirmed at B- and Russia national scale rating at ruBBB-.

ZAO UniCredit Bank's counterparty credit rating was affirmed at BBB-.

Surgutneftegasbank's counterparty credit rating was affirmed at B+.

National Factoring Co.'s counterparty credit rating was affirmed at B- and Russia national scale rating at ruBBB.

Investment Company Veles Capital LLC's counterparty credit rating was affirmed B- and Russia national scale rating was upgraded to ruBBB form ruBBB-.

West Siberian Commercial Bank's counterparty credit rating was affirmed at B- and Russia national scale rating at ruBBB-.

B&N Bank's counterparty credit rating was affirmed at B- and Russia national scale rating at ruBBB-.

Aljba Alliance's counterparty credit rating was affirmed at B-.

Rosbank OJSC JSCB's counterparty credit rating was affirmed at B-.

TransCreditBank's counterparty credit rating was affirmed at BB and Russia national scale rating at ruAA.

BNP Paribas Zao's counterparty credit rating was affirmed at BBB- and Russia national scale rating at ruAAA.

International Bank of Saint-Petersburg's counterparty credit rating was affirmed at B- and Russia national scale rating was upgraded to ruBBB from ruBBB-.

Sotsgorbank's counterparty credit rating was affirmed at B- and Russia national scale rating was upgraded to ruBBB from ruBBB-.


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