OREANDA-NEWS. Fitch Ratings has today upgraded International Moscow Bank's ("IMB") ratings to foreign currency and local currency Issuer Default 'A-' (A minus) from 'BBB+.' IMB's foreign currency Issuer Default Rating ("IDR") is constrained by Russia's 'A-' (A minus) Country Ceiling and the local currency IDR also takes account of Russian country risks.

The bank's Support rating has changed to '1' from '2.' The IDRs and Support rating have also been removed from Rating Watch Positive ("RWP"). A Stable Outlook has been assigned to the bank's IDRs, reflecting that assigned to Russia's IDRs.

At the same time, IMB's other ratings are affirmed at foreign currency and local currency Short-term 'F2' and Individual 'C/D'.

Today's rating actions follow the purchase by Bayerische Hypo- und Vereinsbank AG of 26% of the voting rights of IMB from Nordea Bank Finland Plc ("Nordea").