OREANDA-NEWS. Fitch Ratings has today placed Bank Rossiya's ("BR") Issuer Default rating ("IDR") of 'B-' (B minus), Short-term rating of 'B' and National Long-term rating of 'BB-(BB minus)(rus)' on Rating Watch Negative ("RWN"). BR's other ratings are affirmed at Individual 'D/E' and Support '5'.

The RWN stance follows news regarding the potential acquisition by BR or its subsidiaries of a significant stake in Russian Media Holding REN-TV ("REN-TV"). At this stage, Fitch only has limited information about this transaction, which, according to the bank's officials, is expected to be completed in the first quarter of 2007.

Fitch will resolve the RWN once it receives further details on the acquisition and, should it involve BR or any of its subsidiaries, complete the analysis of the transaction in order to estimate the impact upon BR's credit standing.