OREANDA-NEWS. On August 11, 2008 Standard & Poor’s has upgraded B.I.N.BANK’s long-term counterparty credit rating to “B” from “B-“ and national scale rating to “ruBBB” from “ruBBB-”, reported the press-centre of B.I.N.BANK.

The outlook is stable.

S&P states that the rating upgrade reflects the melting down of the uncertainties related to the shareholders changes over the past 12 months, success in building up of the Bank’s loan portfolio in the first half of 2008, ability to maintain good level of deposit-based funding and historically below-market-average level of NPLs.

S&P emphasized that the Bank has maintained good liquidity level by creating a sufficient liquidity cushion, which allowed it to navigate the turmoil of the second half of 2007 and redeem its debt in 2008. In general, the Bank’s capital and profitability are assessed as adequate.

Nevertheless, S&P expects that the Bank will continue its further development in line with its current strategy that enables it to further improve the quality of its assets and maintain decent capitalization.