OREANDA-NEWS.  July 19, 2012. Leading international rating agency Fitch Ratings upgraded the Long-term Issuer Default Rating (IDR) of Alfa-Bank to ‘BBB-‘ from ‘BB+’, stable outlook, reported the press-centre of Alfa-Bank. 

According to the press release, published at Fitch Ratings web site, the upgrade reflects both a reassessment of the bank’s appropriate rating level, given Alfa-Bank’s underlying credit strengths, and further moderate improvement in some of the bank’s credit metrics. Alfa-Bank’s ratings reflect its solid franchise and good prospects for further franchise development; the bank’s good management and track record of navigating through successive crises in the Russian market; and currently strong balance sheet and performance metrics. In Fitch’s view, Alfa-Bank has solidified its position as the strongest privately owned bank in Russia.

"Receiving an investment grade rating is the logical result of Alfa-Bank’s 20-years of professional teamwork and approach to risk management, focus on quality of client service and investment in advanced technology. Our excellent ability to work with problem borrowers and special situation opportunities during the crisis added to Alfa-Bank’s strength in the market. We appreciate that Fitch Ratings has recognized the stability of Alfa-Bank, assessing us as the highest rated Russian private bank, and we are pleased that our work has been praised by one of the leading international rating agencies" — Alexey Marey, CEO.

"It is the first time ever that a Russian private bank has been assigned an investment grade rating by one of the leading international rating agencies. This fact will undoubtedly strengthen Alfa-Bank’s capital markets position, bring additional value to our existing investors and win new domestic and international investors" — Andrew Baxter, CFO.