S&P lifts Vnesheconombank

Standard & Poor's said it affirmed the long-term foreign-currency issuer credit ratings on Vnesheconombank at BBB and the long- and short-term local-currency ratings at BBB+ and A-2.

The agency also said it raised the short-term foreign-currency rating to A-2 from A-3.

The outlook is stable.

The ratings are based on an opinion of its status as a government-related entity with an almost certain likelihood of extraordinary support from the Russian government in case of financial difficulties, S&P said.

The upgrade on the short-term foreign-currency rating reflects the same action taken in June on the short-term foreign-currency rating on the Russian Federation, S&P said.

The bank's stand-alone credit profile is assessed at BB, based on its strong business position, moderate capital and earnings, moderate risk position and adequate liquidity, the agency said.

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