OREANDA-NEWS. July 25, 2011. Standard and Poor’s Ratings Services has affirmed MDM Bank long-term counterparty credit rating at ’Bplus ’ with Stable Outlook.

Standard and Poor’s among other factors that underpinned MDM’s ratings quoted MDM’s below average single-name lending and deposit concentrations, low dependence on foreign liabilities, adequate capitalization, and increased business platform following the merger with URSA Bank.

“We consider MDM’s asset quality to be fairly comparable with that of its domestic peers and expect further gradual improvements. This should reduce pressure on the bank’s capitalization and profitability, in our view”, said Standard and Poor’s analysts in the report.

Konstantin Rogov, the CFO of MDM Bank, comments that the Bank will remain focused on asset quality improvement in an effort to strengthen MDM Bank credit profile.