OREANDA-NEWS. 'Expert RA' rating agency downgraded 'Sberinvestbank' creditworthiness rating to В++, which means acceptable credit solvency. The rating outlook is developing. The developing outlook means equal probability of maintaining and changing the rating in the mid-term. The Bank used to have rating A, which means high credit solvency, the second sublevel, with the stable outlook.

'Sberinvestbank' rating downgrading is due to deterioration of a number of key financials. In addition, in 4Q2013, 'Sberinvestbank' commission income declined significantly, which resulted in the impossibility to cover operating costs with net interest and commission income. We also expect the interest income to decrease because of the loan portfolio contraction, which would produce additional pressure on the Bank's profitability and, accordingly, t