ROSSIYSKY CAPITAL's Credit Rating Affirmed
OREANDA-NEWS. National Rating Agency has affirmed its national scale 'AA' credit rating on ROSSIYSKY CAPITAL Joint-Stock Commercial Bank (PJSC). On Dec. 23, 2010, the bank was assigned NRA's national scale credit rating of 'A+', which was affirmed with a positive outlook on Oct. 20, 2011. The rating was raised to 'AA-' on May 15, 2012 and to 'AA' on Apr. 16, 2014.
The rating benefits from ROSSIYSKY CAPITAL's strong position in the financial market, underpinned, among other things, by the controlling shareholder's support, and its consistently growing capitalization.
The rating is constrained by the bank's deteriorated stand-alone financial profile, loan quality pressures stemming from current economic conditions, losses for 2014 and 1H 2015, and low regulatory capital ratios. NRA notes the controlling shareholder's propensity to provide financial support necessary to help the bank implement its announced plans, but finds it hard currently to appraise the size of such support. NRA intends to update ROSSIYSKY CAPITAL's rating after analyzing its 2015 full-year financials, taking into account the bank's recent involvement in a large project dealing with a financial rehabilitation of a number of problem banks.