OREANDA-NEWS. On 17 April 2008 was announced, that international rating agency Fitch Ratings affirmed Russia-based ZAO UniCredit Bank’s (UCB) ratings at Long-term foreign and local currency rating "A-" (A minus), Short-term foreign and local currency rating "F2", Individual rating "C/D" and Support rating "1". The Outlooks for the Long-term ratings are Stable.

Long- and Short-term ratings as well as Support rating are driven by potential support from UniCredito Italiano (UCI, ’A+’/’F1’/Positive Outlook) and extremely high probability that such support would be forthcoming, if required. Further upward movement in UCB’s Long-term rating will depend on Russia’s Country Ceiling and UCI’s rating.

UCB’s Individual rating reflects its sustained robust bottom—line performance, its strong risk management framework and shareholder oversight as well as the bank’s completed integration into Bank Austria Creditanstalt’s reporting systems. All this, according to Fitch Ratings, has a positive effect on the credit profile of the Bank.

UniCredit Bank holds a leading position in the Russian banking system due to the powerful backing of its shareholder — UniCredit Group. It is guided in its daily business by international commercial practices and standards and by its conservative approach to risk management. Analysis of UniCredit Bank operations conducted by authoritative rating agencies confirms that the bank’s liquidity is well above average for Russian banks. This reflects the Bank’s good reputation, its reliable sources of financing and its significant investment in liquid assets.