Ratings

Fitch Ratings

On June 3, 2019, Fitch Ratings has revised the Outlooks on Sovcombank’s Long-Term Issuer Default Ratings (IDRs) of "BB" to Positive from Stable, affirming them. The revision of SCB’s Outlook to Positive reflects Fitch rating agency's expectation that the rating could be upgraded within next 12-18 months, if the Bank continues to broaden its franchise, while maintaining strong financial metrics.

Category
RatingDateForecast
Long-term foreign currency issuer default rating
BB03.06.2019Positive
Long-term local currency issuer default rating
BB03.06.2019Positive
Short-term foreign currency issuer default rating
B03.06.2019
Viability rating
BB03.06.2019
Support rating
503.06.2019
Support rating floor
03.06.2019No floor
Senior unsecured debt
BB03.06.2019

S&P Ratings

On January 24, 2019, the international rating agency S&P Global Ratings revised its outlook on Sovcombank to positive from stable. The "BB" long-term and "B" short-term issuer credit ratings were confirmed. The decision of the agency was made taking into account the merger of Sovcombank and Rosebank and Sovcombank's potential consideration as a systemically important bank.

Category
RatingDateForecast
Issuer credit rating
BB-/B24.01.2019Positive
SACP Score
BB−24.01.2019
Basic rating level
BB−24.01.2019
Business position
024.01.2019Adequate
Capitalization and profitability
024.01.2019Moderate
Risk position
024.01.2019Adequate
Funding and liquidity
024.01.2019Medium and adequate
Support
024.01.2019
Support for additional ability to absorb losses with subordinated capital
024.01.2019
State support for OSG
024.01.2019
Group support
024.01.2019
Support for systemic value
024.01.2019

Moody's Ratings

On March 23, 2018, the international rating agency Moody's confirmed the long-term and short-term deposit ratings of Sovcombank in connection with the forthcoming bank deal with Rosevrobank, which was announced on March 13. Agency analysts positively evaluated the deal, stressing that the business models of banks complement each other well. Sovcombank's assets will increase by 30% at the expense of Rosevrobank corporate loans. The funding structure of Sovcombank will be more balanced between retail and corporate deposits, with less dependence on interbank lending.

Category
RatingDateForecast
Rating long-term default risk
Ba223.03.2018Stable
Long-term debt rating
23.03.2018
Rating for long-term deposits
Ba323.03.2018
Bank deposit rating
Ba323.03.2018
Baseline Credit Rating
Ba323.03.2018
Adjusted baseline credit rating
Ba323.03.2018
Counterparty risk
Ba2/NP23.03.2018

АКРА

On August 9, 2019 The Analytical Credit Rating Agency (ACRA) upgraded the credit rating of Sovcombank to "A+(RU)" with a "stable" outlook due to a change in the market risk assessment, which led to an upgrade in the Bank’s SCA to "a". The Bank’s systemic importance for the Russian banking system is reflected in one additional notch up to its SCA.

Category
RatingDateForecast
Credit rating
A+09.08.2019Stable
Business Profile First Stage
BBB09.08.2019
Business Profile Second Stage
BBB09.08.2019
Capital adequacy
+209.08.2019Strong
Risk profile
009.08.2019Adequate
Funding and liquidity
009.08.2019Adequate
SCA
A09.08.2019
Systemic adjustments
009.08.2019
Individual adjustments
009.08.2019
Systemic importance
+109.08.2019
Group
009.08.2019
State
009.08.2019

RAEX

On May 24, 2019, RAEX Rating Agency (Expert RA) confirmed Sovcombank's credit rating at the level of "ruА" with a "stable" outlook. The rating is positively influenced by moderately high probability of financial and administrative support from the Federal authorities in case of emergency due to the scale of business and the structure of deposits of the Bank.

Category
RatingDateForecast
Credit rating
ruA24.05.2019Stable

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