OREANDA-NEWS. Fitch Ratings has today affirmed Russia-based Sibacadembank's ("SAB") ratings at Issuer Default 'B' with a Stable Outlook, Short-term 'B', Individual 'D' and Support '5'.

Also, Fitch has assigned expected ratings of Recovery 'RR4' and Long-term 'B' to SAB's upcoming senior unsecured eurobond issue.

SAB's ratings reflect the credit and operational risks arising from the bank's very rapid ongoing and planned loan growth, modest capitalisation and reliance on capital markets access to fund further capital increases, as well as the relatively high-risk Russian operating environment.

At the same time, the ratings also consider the bank's strong regional franchise, continued sound asset quality and performance and low market risk appetite.