OREANDA-NEWS. August 11, 2011. BANK URALSIB (OJSC “URALSIB” or the Bank) (RTS: USBN) is pleased to announce that Fitch Ratings has upgraded Bank Uralsib's and Uralsib Leasing Group's Long-term Issuer Default Ratings (IDRs) to 'BB-' from 'B+'.

On August 9, 2011, Fitch Ratings has upgraded Bank Uralsib's and Uralsib Leasing Group's Long-term Issuer Default Ratings (IDRs) to 'BB-' from 'B+' with Stable Outlooks.

According to the press release of Fitch Ratings “The upgrade of Bank Uralsib's ratings reflects a significant reduction in related party exposures and positive asset quality dynamics. The ratings also take into consideration the bank's broad nationwide franchise, limited refinancing risk and currently strong liquidity”.