Fitch places 28 Russian banks on Rating Watch Positive or Developing.

By bne IntelliNews March 9, 2010
Fitch Ratings agency placed the ratings of 13 private Russian banks on Rating Watch Positive list, while ratings of 14 banks and one leasing company were placed on Rating Watch Developing list. These upgrades are attributed to potential for rating increase in the future due to better than expected results of the Russian banking sector. The decision regarding the ratings of the banks revised will be based on the performance indicators of each bank in particular. The largest banks that used to have Stable outlook and are now placed by Fitch on Rating Watch Positive are: Alfa-Bank (BB-), MDM Bank (BB-), NOMOS Bank (B+) and SDM-Bank (B-). The largest banks that used to have a Negtive outlook and are now placed by Fitch on Rating Watch Developing are PromSvyazBank (B+), Russian Standard Bank (B+), Uralsib (B+), Bank Zenith (B+) and Moscow Credit Bank (B).

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