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S&P ups Promsvyazbank view to positive
S&P said it revised the CreditWatch implications on its B+ long-term issuer credit rating on Promsvyazbank PJSC to positive from negative and affirmed the B short-term issuer credit rating on the bank.
“We initially placed the rating on CreditWatch with negative implications on Nov. 3, 2017, and maintained it there on Dec. 19, 2017, after the Central Bank of Russia (CBR) placed the bank under temporary administration,” S&P said in a news release.
“The revised CreditWatch implications reflect the Russian government's announced plans to turn Promsvyazbank into its financial arm to serve the defense sector.”
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