S&P changes Rosgosstrakh view to positive

S&P said it revised the outlook on PJSC Rosgosstrakh to positive from stable and affirmed its BB- ratings.

“We believe that Rosgosstrakh (RGS) is strengthening its overall credit profile thanks to improving capitalization, reinforced by stable profits and no dividends over the next three years,” said S&P in a press release.

The agency said it sees the company being operationally separated from its parent, Bank Otkritie Financial Corp., meaning its creditworthiness, financial performance, and funding, among other operational factors, are unlikely to be affected by it.

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