RusRating gives URSA Bank BB+

7 November 2007 (10:18)

RusRating estimated URSA Bank’s credit rating at BB+ and its outlook as Stable last week. The agency itself was set up in 2001 and is now analyzing the financial performance of 44 Russian banks. The agency’s analysts believe URSA Bank’s rating is well deserved thanks to the bank’s strong position on the Ural and Siberian markets, its transparent ownership scheme, having some globally recognized international organizations as stockholders, efficient corporate management, and general financial success and stability.

Prior to RusRating’s estimates, Fitch Ratings, the international rating agency, promoted URSA Bank’s Rating Outlook from Stable to Positive.

The bank’s Issuer Default Rating was affirmed at B, its individual rating at D in both short- and long-term; its support rating was affirmed at 5 and level of long-term IDR support was affirmed as missing. The rating was upped in September 2007.

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