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S&P upgrades SME Bank
Standard & Poor's said it raised the short-term foreign-currency rating on SME Bank to A-2.
The agency also affirmed its long-term foreign-currency rating at BBB and the long- and short-term local-currency ratings at BBB+ and A-2.
The outlook is stable.
The ratings reflect that the bank is a core subsidiary of its 100% owner, Vnesheconombank, which is a government-related entity with an almost certain likelihood of support from the Russian Federation, S&P said.
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