Fitch lifts Raiffeisenbank view to stable

Fitch Ratings said it affirmed the long-term foreign-currency issuer default ratings of AO Raiffeisenbank and revised its outlook to stable from negative.

The agency also affirmed the bank’s AAA(rus) national rating and simultaneously withdrew them.

The national rating was withdrawn because Fitch said it withdrew Russian national scale ratings in response to a new regulatory framework for credit rating agencies in Russia.

The bank also has a short-term foreign-currency issuer default rating of F3.

The ratings are underpinned by the potential support the bank may receive from foreign shareholders, Fitch said. Raiffeisenbank is a 100% subsidiary of Raiffeisen Bank International AG, the agency noted.

The bank’s issuer default rating is not constrained by the Russian country ceiling, Fitch added, but are driven by the bank's intrinsic strength.

The outlook revision reflects stabilization in the bank's credit metrics as captured by its BBB- viability rating, the agency said.

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