Fitch lifts Sberbank of Russia to BB-

Fitch Ratings said it affirmed Bank Sberbank of Russia OJSC's long-term foreign- and local-currency issuer default ratings at BBB- and upgraded its viability rating to BB- from B+.

The outlook is stable.

Fitch also said it withdrew without affirmation subsidiary JSC VTB Bank (Kazakhstan)'s ratings as the bank chose to stop participating in the rating process.

The agency also affirmed Bank Sberbank of Russia's short-term foreign-currency issuer default rating at F3, national long-term rating at AA(kaz), senior unsecured debt rating at BBB-, senior unsecured national debt rating at AA(kaz), subordinated debt rating at BB+ and subordinated national debt rating at AA-(kaz).

The ratings are based on the high probability of support from its owner, Sberbank of Russia, if needed, Fitch said.

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