Fitch Ratings has affirmed its ratings for Sberbank, the largest bank in Russia and Eastern Europe, it announced Monday.
Fitch affirmed the long-term foreign and local currency IDRs at "BBB" with a stable outlook, the short-term foreign and local currency IDRs at "F3," the support rating at "2," the level of long-term rating support at "bbb" and the national long-term rating at "AAA(rus)" with a stable outlook.
"Sberbank's long-term IDR is currently driven by Fitch's view of the bank's standalone strength, reflected in its 'bbb' Viability Rating, and so would not come under downward pressure even if Fitch lowers its expectation of government support for the bank", the agency said. "The affirmation of Sberbank's 'bbb' VR reflects its dominant market position, stable deposit base, currently strong performance and solid liquidity position. Moreover, the rating takes into account the bank's strong asset quality and adequate capitalization."
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