OREANDA-NEWS. December 25, 2009. Fitch Ratings affirmed Russian Agricultural Bank's (RusAg) Long-term Issuer Default Rating (IDR) at 'BBB' with a Negative Outlook, reported the press-centre of RusAg.

The affirmation of RusAg’s long-term IDR reflects the high probability of support available from the government of the Russian Federation in case of need - RAB is 100% owned by the government and as a State Agent for agribusiness development to a large degree performs policy role, combining the roles of a commercial bank and a development institution.
RusAg’s individual rating of ‘D’ is supported by the Bank’s strong capitalisation, broad franchise in the rural regions of the Russian Federation and its sound liquidity position.

The rating actions are as follows:

Long-term foreign currency IDR: affirmed at 'BBB'; Outlook Negative

Long-term local currency IDR: affirmed at 'BBB'; Outlook Negative

Senior unsecured debt: affirmed at 'BBB'

Subordinated debt: affirmed at 'BBB-'

Short-term IDR: affirmed at 'F3'

Individual Rating: affirmed at 'D'

Support Rating: affirmed at '2'

Support Rating Floor: affirmed at 'BBB'

National Long-term Rating: affirmed at 'AAA(rus) '; Outlook Stable

RusAg is the fourth largest bank in Russia in terms of assets. The bank has 60% market share in agribusiness lending and is number two by regional branch network development.