OREANDA-NEWS. December 23, 2010. Fitch Ratings has upgraded Promsvyazbank’s long-term Issuer Default Rating (IDR) from B+ with positive outlook to BB- with stable outlook, reported the press-centre of Promsvyazbank. 

The key drivers for this upgrade are:

improving asset quality of the bank,

increased level of capital adequacy,

sound liquidity position,

strong franchise of Promsvyazbank as one of the leading privately-owned banks in Russia.

Together with the upgrade of Promsvyazbank IDR, Fitch Ratings also upgraded and confirmed the following ratings:

Upgrade:

Senior unsecured rating: upgraded to ‘BB-’ from ‘B+’

Subordinated rating: upgraded to ‘B+’ from ‘B-‘

Confirmation:

Short-term foreign currency IDR: affirmed at 'B'

Individual rating: affirmed at ‘D’

Support Rating: affirmed at '4'.