Fitch affirms ZAO Citibank

Fitch Ratings said it affirmed ZAO Citibank's long-term issuer default rating at BBB+, removed it from Rating Watch evolving and assigned a positive outlook.

Its short-term foreign-currency issuer default rating of F2 and national long-term rating of AAA(rus) were unaffected.

The action follows similar action on its parent, Citigroup Inc., Fitch said.

The positive drivers for ZAO Citibank remain in place and continue to reflect the positive outlook on the sovereign, the agency said.

The rating could be upgraded if Russia's BBB+ country ceiling is upgraded, Fitch added.

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