OREANDA-NEWS. November 12, 2009. OJSC "URALSIB" (URALSIB or Bank) (РТС: USBN) informs that Fitch Ratings has affirmed URALSIB's long-term Issuer Default credit rating at "B+" (outlook - "negative").

6 November 2009 Fitch Ratings has affirmed URALSIB's long-term Issuer Default credit rating at "B+". The outlook is also left unchanged.

According to Fitch Ratings, "the downside risk for the bank is also having reduced in recent months due to the less negative economic backdrop, and further stabilization of macroeconomic indicators and individual bank asset quality trends could lead to further Outlooks being revised back to Stable in 2010".

The agency notes efforts of Bank on increase of capital adequacy. In particular, the Bank has shown essential growth of capital as a result of additional share issue in IIQ 2009. As the result, the Capital adequacy ratio (N1), calculated under CBR methodology, highly exceeded the minimum level and equals 15.3% as of 30.09.2009.