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S&P upgrades VEB-leasing
S&P said it raised its local and foreign currency ratings on JSC VEB-leasing to BBB/A-2 and BBB-/A-3 from BBB-/A-3 and BB+/B, respectively.
The outlook is stable.
The agency said it raised the ratings following its upgrade of parent Vnesheconombank (VEB), consequent to the upgrade of Russia.
“We continue to regard VEB-leasing as a core subsidiary of VEB and equalize the ratings on VEB-leasing with those on the parent,” S&P said in a news release.
“We expect that VEB-leasing will remain within the VEB group, for which it acts as the leasing arm.”
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