OREANDA-NEWS. Fitch Ratings has today changed the Outlooks on Russia-based Alfa Bank's ("Alfa") Issuer Default and National Long-term ratings to Positive from Stable. The ratings are affirmed at Issuer Default 'BB-' (BB minus), National Long-term 'A+(rus)' Individual 'C/D', Short-term 'B' and Support '4'.

The Outlook reflects Fitch's view of the improving, albeit still challenging, Russian operating environment and the enhanced prospects for the country's leading privately-owned banks, as well as the ongoing strengthening of Alfa's franchise and expansion of its equity base.

Alfa's ratings continue to reflect the concentrated balance sheet and modest capital ratios of the broader Alfa Banking Group ("ABG", of which Alfa is the main entity).