OREANDA-NEWS. On April 20, 2009 Fitch Ratings affirmed state-owned Russian banks’ IDRs and downgraded individual ratings of two banks. Russian Agricultural Bank’s ratings were affirmed at the current level, reported the press-centre of Russian Agricultural Bank.

The affirmation of RAB’s long-term IDR reflects the high probability of support available from the government of the Russian Federation in case of need - RAB is 100% owned by the government and as a State Agent for agribusiness development to a large degree performs policy role.

According to Fitch RAB’s individual rating of ‘D’ is supported by the Bank’s strong capitalisation, following RUR 31.5 billion and RUR 45 billion of equity contributions from the state in August 2008 and February 2009, respectively, and RAB’s sound liquidity position.