OREANDA-NEWS. On 29 July 2009 was announced, that Standard & Poor’s had affirmed international long-term credit rating of SOTSGORBANK at B-, short-term rating at C level, outlook negative. National scale rating affirmed at ruBBB-.

“Credit ratings confirmation by international rating agency Standard & Poor’s is a significant and positive event for SOTSGORBANK especially in the light of the situation on international markets. Bank marks adequate capitalization level, credit worthiness, management, limited liability to market risks, which helps bank to function well in the difficult market conditions on Russian financial market. Prospects of rating growth depend on Russian financial markets stabilization” – comments International business and financial institutions department director Alexander Golev.

Three rating agencies have issued credit ratings to SOTSGORBANK: Standard & Poor’s, Moody’s Investors Service and national agency RusRating.