OREANDA-NEWS. Fitch Ratings has today changed the Outlook on the Issuer Default Rating ('IDR') of Russia-based Promsvyazbank ("PSB") to Positive from Stable. The bank's ratings are affirmed at IDR 'B+', Short-term 'B', Individual 'D' and Support '5'.

The change in Outlook follows the recent announcement that German-based Commerzbank Auslandsbanken Holding AG, a wholly owned subsidiary of Commerzbank AG (rated IDR 'A'/Stable Outlook), has acquired a 15.3% stake in the bank.

In Fitch's view, even as a minority shareholder Commerzbank could have a positive impact on certain aspects of PSB's governance and business development.