OREANDA-NEWS. December 8, 2010. According to Larisa Makarenko, the agency’s director of corporate ratings, the rating increase (from “BB-” with a positive outlook to “BB” stable outlook) reflects ongoing favourable development trends and improved financial indicators.

The rating is based on solid, stable market positions at the regional level; moderate sensitivity to existing credit risks; and minimal dependence on the interbank and securities markets. Constraining factors include a funding base weakly diversified by type and the limited capacity of the Bank's owners to provide support.