S&P keeps Promsvyazbank on positive watch

S&P said it was keeping its B+ long-term issuer credit rating on Promsvyazbank PJSC on CreditWatch with positive implications.

“This signifies that we need greater clarity to assess the potential increase in the likelihood of state support to the bank, in view of its new role in servicing the state defense sector,” S&P said in a news release.

At the same time, S&P said it affirmed its B short-term issuer credit rating on Promsvyazbank.

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