Russia's Rosbank announced recently that Fitch Ratings has downgraded its Long-Term Issuer Default Ratings in all currencies from "BBB+" to "BBB" and its short-term foreign currency Issuer Default Rating from F2 to F3.
The move came after Fitch took similar action on Russia's Country Ceiling, lowering it to "BBB" from "BBB+" and is an automatic result of the agency's methodology.
Thirteen Russian banks which had been rated above the country's ceiling were also downgraded, although Rosbank remains at the top with a long-term rating of "BBB."
The Russian economy has been hit by the sanctions imposed by the U.S. and more recently by the EU in response to Moscow's annexation of Crimea and support for rebels in Ukraine.
- ASIAN DEVELOPMENT BANK: ADB, Tonga Sign Grant Agreement for Ongoing Urban Project
- ANELIK BANK - ARMENIA: Order a free Idram Rocket Visa Card and get 2 KinoPark invitations
- ACBA-CREDIT AGRICOLE BANK: French-Armenian Doctors Program in Tavush
- CENTRAL BANK OF AZERBIJAN: On results of deposit auction on attraction of funds by the Central Bank
- CARTUBANK - GEORGIA: Card tariffs
- ASIAN DEVELOPMENT BANK: ADB President Reaffirms Strong Support to Maldives
- ROSBANK - RUSSIA: Rosbank will keep zero service fee for money transfers via Faster Payments System
- BELARUS MINISTRY OF FOREIGN AFFAIRS: Ambassador of Belarus V.Kolesnik meets the Deputy Secretary-General of ASEAN
- BANK OF GEORGIA: The Bank of Georgia has received the Global Finance Award for "Best Internet Banking for Businesses in Central and Eastern Europe"
- FIRST UKRAINIAN BANK - UKRAINE: FUIB doubled sales of OSAGO insurance policies