Fitch Affirms Russian Agricultural Bank’s IDR at 'BBB '
OREANDA-NEWS. November 21, 2007. Fitch Ratings affirmed Russian Agricultural Bank’s ratings at Long-term Issuer Default (IDR) 'BBB+', National Long-term ‘AAA(rus)’, Short-term IDR 'F2', Individual 'D', Support '2' and Support Rating Floor 'BBB+'. The Outlooks for the Long-term IDR and National Long-term rating are Stable.
High ratings reflect high probability of support from the Russian state, in case of need, based on RAB's state ownership and its status as a conductor of state agricultural policy, in particular the primary role in implementing the National Priority Project on Agribusiness Development and, from 2008, the Federal Programme on Agribusiness Development 2008 - 2012.
According to H107 results RAB is one of the six largest banks by total assets in Russia and the second-largest bank in Russia by regional branch network.
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