OREANDA-NEWS.  June 25, 2012. The Fitch Ratings Agency confirmed Sviaz-Bank’s long-term Issuer Default Rating (IDR) at BB in foreign and national currencies, with a stable forecast, reported the press-centre of Sviaz-Bank.

The Bank’s short-term IDR in foreign currency was confirmed at B and its support rating at3, and the b+ stability rating was assigned to Sviaz-Bank. The national long-term rating was confirmed at AA-(rus), with a stable forecast.

The international agency’s report says that the high growth rates of Sviaz-Bank’s loan portfolio (55% growth was recorded in its loan portfolio in 2011), good quality of its assets (the share of loans overdue for more than 90 days was not above 4% on December 31, 2011), and access to funding assured by the status of a state bank were the positive factors contributing to Sviaz-Bank’s individual rating. Sviaz-Bank is 22nd in the size of its assets in Russia.

According to the Fitch Ratings report, Sviaz-Bank’s IDR and support rating come from the potential support that the Bank can, in need, obtain from Vnesheconombank, its majority shareholder.