S&P's Global Ratings changed its rating outlook for UniCredit Bank Russia from stable to positive.
The outlook revision to positive follows the raising of the long-term issuer credit rating on the Bank's parent company UniCredit SpA to 'BBB' from 'BBB-'. The upgrade, published in early November, indicates the Group's increased ability to support its subsidiaries.
The rating affirmation reflects the Bank's unchanged fundamentals, for example its strong market position, sustainable revenues and sound level and quality of capitalisation. The affirmation also incorporates the agency’s view of the bank's good earnings capacity over the cycle, and healthy risk-management system, which result in better asset quality than the system average.
The positive outlook on UniCredit Bank Russia mirrors that on Russia.
Global Securities Services Russia