15 января 200907:49
Standard & Poor's demotes Gazprombank’s ratings
Standard & Poor's, the international rating agency, had to demote the Russian Gazprombank’s counterparty’s long-term and short-term credit ratings from BBB-/A-3 to ВВ+/В; the Rating Outlook dropped to Negative. At the same time, Gazprombank’s national scale rating was affirmed at ruAA+. ‘This rating demotion has to do with the bank’s weakened solvency through lower capitalization and a dramatic decrease in profits after a recent massive loss on trading transactions. What is more, the Russian economy on the whole has slowed down recently. Then, the risk level was enhanced by the