OREANDA-NEWS. September 17, 2009. Standard & Poor’s international rating agency affirmed credit ratings of Bank Petrocommerce.

S&P’s affirmed B+/B (long-term/short-term) international scale credit ratings and ruA national scale rating with ‘Negative’ outlook.

According to the rating agency’s credit rationale, the ratings’ affirmation is underpinned by “improved capitalization of the Bank, which partially offsets the pressure on the Bank’s credit and business profile from the economic downturn in Russia”. Bank’s ratings also reflect system-wide risks in Russia due to the economic recession and deteriorating operating environment.