Fitch: Peresvet Bank on watch

Fitch Ratings said it placed Peresvet Bank’s B+ long-term foreign- and local-currency issuer default ratings on Rating Watch negative.

Also placed on negative watch include the bank’s short-term foreign-currency issuer default rating of B, national long-term rating of A-(rus), viability rating of B+ and the senior unsecured debt ratings of B+ and A-(rus) with recovery ratings of RR4.

The negative watch primarily reflects an increase in funding and liquidity pressures at the bank, the agency said.

The watch also considers uncertainty related to the recent change to the bank's chief executive officer, Fitch explained.

The agency said the bank’s liquidity recently tightened due to repayments of interbank funding, which led to reported restrictions on maximum daily retail customer deposit withdrawals and moderate increases in deposit rates to limit outflows.

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