Analyst Research

Report Title Price
Provider: Wright Reports
Provider: Reuters Investment Profile
Provider: Otkritie
Provider: Otkritie

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Fitch Downgrades Nomos-Bank OAO's Long-Term IDR-Interfax

Monday, 5 Aug 2013 05:53am EDT 

Interfax reported that Fitch Ratings (Fitch) has downgraded Nomos-Bank OAO's long-term issuer default ratings (IDRs) to BB- from BB, thereby resolving the Rating Watch Negative (RWN) on the ratings. The outlooks on the Bank's long-term IDRs are negative, Fitch said in a press release. Fitch affirmed the Bank's short-term foreign currency IDR B, downgraded the viability rating to bb- from bb (and removed from RWN), affirmed the support rating at 4, and downgraded the national long-term rating to A+(rus) from AA-(rus), (and removed from RWN) with outlook negative. The rating actions follow the acquisition of control over Nomos-Bank OAO by Otkritie Financial Corporation (OFC) and an assessment of the financial positions of Nomos Bank OAO, OFC and group structure following the takeover. 

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