OREANDA-NEWS. Fitch Ratings has today affirmed Russia-based Credit Bank of Moscow's ("CBOM") ratings at Issuer Default 'B-' (B minus), Short-term 'B', Individual 'D', Support '5' and National Long-term 'BB+(rus)'. The Outlooks on the Issuer Default and National Long-term ratings remain Positive.

"Stable or improving profitability ratios on the back of franchise expansion, continued moderate loan impairment and adequate capitalization levels could lead to a rating upgrade," says Vladimir Markelov, Associate Director of Fitch's Financial Institutions team in Moscow. "If the bank's profitability worsens or asset quality deteriorates substantially, the Outlooks could be revised to Stable."

The ratings reflect the bank's reduced core profitability and risks resulting from rapid asset growth as well as certain weaknesses in the Russian operating environment. However, they also take into account the bank's good asset and earnings quality and the considerable progress made in funding diversification.