The international rating agency first affirmed OAO Khanty-Mansiysky Bank’s long-term B+ and short-term B credit ratings and then called them off upon the bank’s request. All of the organization’s liability ratings were recalled as well.

‘The affirmation of OAO Khanty-Mansiysky Bank’s ratings shows that Russia’s operating environment is still complicated and that the prospects of the bank’s upcoming going private are still uncertain. The bank’s strong ties with the administration of Khanty-Mansiysky Autonomous Region, its good financial performance, improved liquidity, and the asset quality which is better than that of the comparable banks are definitely among the strong points,’ says Standard & Poor's credit analyst Maria Malyukova.

‘It is still unclear whether Khanty-Mansiysky Autonomous Region will keep on withdrawing from the bank due to upcoming privatization. Given our current view of the bank and its ties with the region’s authorities, our rating is only one step up from the bank’s own paying capacity estimates. This rating reflects our view that there is a modest chance Khanty-Mansiysky Autonomous Region will provide the bank with some emergency support if needed,’ the agency reports.