OREANDA-NEWS. January 28, 2010. Fitch Ratings raised Russian Agricultural Bank outlook on the Long-term IDR to Stable from Negative and affirmed other ratings of the Bank, reported the press-centre of RusAg.

The upgrade of the outlook of RusAg’s long-term IDR reflects the high probability of support available from the government of the Russian Federation in case of need - RusAg is 100% owned by the government and as a State Agent for agribusiness development to a large degree performs policy role.

Fitch Ratings also raised outlooks on 13 Russian banks, three European banking subsidiaries of a Russian bank and two Russian leasing companies to Stable from Negative and affirmed their ratings.

The rating actions follow the agency’s revision of the Outlook on Russia’s Long-term Issuer Default Rating to Stable from Negative. Raise of Russia’s Outlook to Stable reflects Fitch’s greater confidence in economic and financial stability in the country, i.e. the rebound in oil prices, recovery in net private sector capital inflows and economic activity, decline in inflation, reduction in downside risks in the banking sector and a lower than expected 2009 budget deficit outturn.