Fitch Ratings ups URSA Bank’s rating

Fitch Ratings, the international rating agency, promoted URSA Bank’s Rating Outlook from Stable to Positive.

The bank’s Issuer Default Rating was affirmed at B, its individual rating at D in both short- and long-term; its support rating was affirmed at 5 and level of long-term IDR support was affirmed as missing..

‘This positive rating results from URSA Bank’s recent issue of $408 million worth of preference shares and the rate the bank uses on its mortgages and car loans; credit cards offered to borrowers with a nice credit record were another factor,’ Fitch Ratings says referring to Alexei Kechko, Junior Director of Fitch’s Moscow group.