TEXT-S&P raises Vnesheconombank S-T FC rating to 'A-2'; otlk stbl
(The following statement was released by the rating agency)
Sept 12 -
-- Our ratings on Russia-based Vnesheconombank (VEB) reflect its government-related entity status and our view that it benefits from an "almost certain" likelihood of extraordinary government support.
-- We raised our short-term foreign currency rating on the Russian Federation to 'A-2' from 'A-3' on June 27, 2012.
-- We are affirming our 'BBB' long-term foreign currency rating and our 'BBB+/A-2' short- and long-term local currency ratings on VEB. We are raising our short-term foreign currency rating on VEB to 'A-2' from 'A-3'.
-- The stable outlook on VEB mirrors that on the Russian Federation. Future rating actions on VEB will likely follow those on the sovereign, assuming that the institution's fundamentals and public policy functions remain unchanged.
On Sept. 12, 2012, Standard & Poor's Ratings Services affirmed its long-term foreign currency issuer credit ratings on Russia-based Vnesheconombank (VEB) at 'BBB' and the long- and short-term local currency ratings at 'BBB+/A-2'. We raised our short-term foreign currency rating on VEB to 'A-2' from 'A-3'. The outlook is stable.
The ratings on VEB are based on our opinion of its status as a government-related entity (GRE) with an "almost certain" likelihood of extraordinary support from the Russian government in case of financial difficulties.
The rating action on the short-term foreign currency rating reflects the same action taken on June 27, 2012, on the short-term foreign currency rating on the Russian Federation (foreign currency: BBB/Stable/A-2; local currency: BBB+/Stable/A-2).
- U.S. war veteran released by North Korea returns home |
- South Korea to make announcement on air zone; expansion is anticipated
- Ukraine opposition seeks million-strong rally in Kiev
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Obama defends interim Iran deal, seeks to assure Israel