OREANDA-NEWS. Fitch Ratings has today placed Russia-based Rosbank's ratings of foreign currency and local currency Issuer Default 'B+', Short-term 'B', Support '4' and National Long-term 'A-(A minus)(rus)' on Rating Watch Positive ("RWP").

This follows the recent announcement that Societe Generale (IDR 'AA' / Outlook Stable) has increased its stake in Rosbank to 20% minus 1 share and acquired from Interros a call option to further increase its stake to 50% plus one share. Rosbank's Individual rating is affirmed at 'D'.

At the same time, Fitch has assigned final ratings of Long-term 'B+' and Recovery 'RR4' to the Series 23 issue of RUB5 billion fixed-rate RUB notes of Dali Capital PLC to be used to finance an unsecured loan to Rosbank (see announcement of 13 September 2006 on www.fitchresearch.com for more details on the transaction structure). The Long-term rating of the notes is also placed on RWP.