OREANDA-NEWS. March 5, 2011. According to Victoria Belozerova, the agency’s Director of Ratings and Macroeconomic Analysis, the change in outlook reflects risks arising from ongoing negative reports about the Bank in connection with the non-transparent sale to its current owners.

The rating itself is based on an established business and recognised brand, including a market presence in loans and other services for both corporate and retail clients.

Constraining factors include above-average credit risks, a concentrated corporate client base, and limited access to long-term resources.