OREANDA-NEWS. April 05, 2010. In the framework of systematic review on Russian banks, international rating agency Standard & Poor’s revised B&N Bank’s outlook on the long-term counterparty credit rating to stable from negative. At the same time, S&P affirmed the counterparty long-term and short-term credit ratings of the Bank at B- and С accordingly and the Russia national scale rating at ruВВВ-.

Rating action on B&N Bank reflects the Bank’s stable position on financial market in the current conditions, good loss-absorption capacity, adequate capital level and well-balanced liquidity position. Moreover, the outlook revision is underpinned by the Bank’s visibility in the retail-deposit-taking market and geographic diversification of its business.

“The rating action reflects Standard & Poor’s view that operating conditions for financial institutions in Russia are gradually stabilizing,” said S&P credit analyst Ekaterina Trofimova. “In our opinion, the growth in problem loans has peaked; liquidity has improved and the prospects are brighter for refinancing,” Ms. Trofimova emphasized. (Source: S&P release “Outlooks on 14 Russian financial institutions are revised to stable as tough operating conditions ease” dated April 1, 2010).