S&P Global Ratings Upgrades Vozrozhdenie Bank’s Rating to В+, Outlook Positive

3 October 2018

International rating agency S&P Global Ratings (S&P) upgraded Vozrozhdenie Bank long-term credit rating to В+ from B and removed it from CreditWatch Developing (rating under review). The outlook on the ratings is positive.

The change of the rating is driven by the completion of the transaction for acquisition by VTB Bank of a controlling stake of Vozrozhdenie Bank and stabilization of its ownership structure. Thereby, the Bank’s ratios are expected to be positively affected by the current indirect or direct support from the financial group.

„The rating action reflects S&P’s positive opinion regarding the Bank’s development prospects. It is important that Vozrozhdenie Bank’s own liquidity ratios are evaluated by the Agency as sufficiently high compared with the similar ratios of comparable banks,” commented Deputy Chairman of the Management Board of Vozrozhdenie Bank Vyacheslav Tomashevskiy. „The Bank’s multi-year operating experience in the financial sector and its high expert appraisal in regional business are also emphasized by the Agency as positive factors as part of strategic, operational and organizational integration in the Group’s activity.”

Moody’s Upgrades Vozrozhdenie Bank’s Rating to Вa2, Outlook Positive
ACRA upgraded the credit rating of Vozrozhdenie Bank by assigning it a “stable” outlook