OREANDA-NEWS. February 16, 2010. RusRating changed the outlook of the credit rating to LLS “BTA Bank” from “indefinite” to “stable”. The rating of the Bank remains at the B level, reported the press-centre of BTA Bank.   

The change of the outlook of the credit rating to LLS “BTA Bank” from “indefinite” to “stable” is caused by timely payment by the Bank in December, 2009 of a regular coupon under notes of Slavinvest Finance S.A., by arriving in January, 2010 at an agreement with investors in respect to the change of the note repayment schedule, by payment of 10% of the amount of the principal debt (as well as accrued coupon over the period from December 21, 2009 till January 15, 2010) subject to the approved note repayment schedule, by reducing the amount of notes outstanding in the market from 100 million dollars as of the issue date till 62.9 million dollars as of the present time.

Also, the following factors, which support the rating, are: support to the Bank by the controlling owner, including provision of a subordinated loan for increase of the Bank’s capital in October - November, 2009; government support, including prolongation of loans received earlier from the Bank of Russia; efficient management under the conditions of significant affect by nonfinancial risks upon the Bank’s business; high level of the Bank’s capitalization; the current level of the Bank’s development; low equity risk.