Fitch: Russian Agricultural Bank on watch

Fitch Ratings said it has placed Russian Agricultural Bank on rating watch negative.

The agency said it expects that any downgrade of the BBB long-term issuer default ratings is likely to be limited to one notch.

The watch on Russian Agricultural Bank's B viability rating reflects Fitch's concerns about the bank's current asset quality and capital positions, and these concerns are based on the absence of any disclosures from the bank on aggregate portfolio asset quality metrics beyond end-2011 as well as the apparently very weak quality of the bank's largest loans at end-Q312.

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