S&P: Bank VTB unaffected

Standard & Poor's said that its ratings on Bank VTB and its core subsidiaries Bank VTB 24 and VTB-Leasing (all rated BBB+/stable/A-2) remain unchanged after the revision of the outlook on The Russian Federation to positive from stable.

In accordance with S&P's government-related entities rating approach, the agency said it classifies Bank VTB as a commercial institution, not a policy institution.

The agency noted that the ratings on Bank VTB are based on its bottom-up methodology whereby it assesses the bank's stand-alone credit quality and any uplift for expected extraordinary state support, currently representing four notches on the long-term rating for Bank VTB.

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