OREANDA-NEWS. April 01, 2008. FitchRatings published its release stating that B.I.N.BANK’s Long-term Issuer Default rating (IDR) of 'B-' (B minus) and National Long-term rating of 'BB(rus)' was placed on Rating Watch Positive (RWP), reported the press-centre of  B.I.N.BANK.

The Bank's other ratings are affirmed at Short-term IDR 'B', Individual 'D', Support '5' and Support Rating Floor 'No Floor'.

The RWP reflects Fitch's view that B.I.N.BANK's financial profile has now improved sufficiently to warrant a Long-term IDR of 'B' after the completion of the deal related to ownership change.

Among positive factors encouraging the upgrade of rating are good financial results of the Bank in 2007 including business diversification by industries and regions, decrease of concentrations in the loan portfolio as well as further expansion of the branch network.

The Agency also noted that after the official completion of ownership change all potential political risks related to the family of the former Bank’s President would be removed.