Standard & Poor's might demote VTB rating

The international rating agency placed the long-term contractor rating of OAO Bank VTB and its enterprises VTB-Leasing and VTB-Leasing Finance on the Negative rating watch on March 1, 2011, RIA Novosti reports. These ratings are now at BBB.

‘Placing [the ratings – editor’s note] on the rating watch, with possible demotion, reflects the probable strong negative impact on Bank VTB’s capital of the risks associated with the recent acquisition of Bank of Moscow,’ the agency explains.