OREANDA-NEWS. August 04, 2014. International Rating Agency Fitch Ratings has downgraded Rosbank’s Long-term Issuer Default Ratings in all currencies from “BBB+” to “BBB” and its Short-term foreign currency Issuer Default Rating from F2 to F3, as a result of similar action on Russia’s Country Ceiling, which was lowered to “BBB” from “BBB+” on 25th July 2014.

Therefore, the downgrade is an automatic consequence of Fitch’s methodology and is a reflection of the recent action taken on the country’s ceiling. As such it is affecting all 13 Russian banks which were previously rated above this ceiling, including Rosbank.

With a long-term rating at BBB, Rosbank remains among the best-rated banks in Russia.