OREANDA-NEWS. 'Expert RA' rating agency upgraded 'Derzhava' Joint Stock Commercial Bank creditworthiness rating to A+, which means very high credit solvency. The rating outlook is stable, which means high probability of maintaining the rating in the mid-term. The rating sub-level is three. The Bank used to have rating A, which means high credit solvency, with the stable outlook, the first sub-level.

High quality and liquidity of the securities portfolio, a good balance of assets and liabilities, by their maturities, in the short-term and high loan portfolio security were regarded as the key positive factors. A good balance of assets and liabilities, by their maturities, in the 12+-month horizon, high strategic support of the business and acceptable quality of management of key bank risks are also typical of the Bank.

High encumbrance of assets as of some particular dates (in 2013, the securities pledged under repo transactions accounted for 40% of assets; 15% as of October 1, 2013) and high concentration of liabilities on major lenders were highlighted as the principal negative factors. The moderately high share of III-V quality category loans and the moderately high share of liabilities that mature within 30 days restrain the rating.