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Fitch revises outlook on International Investment Bank

Fitch Ratings on Dec. 4 affirmed International Investment Bank's long-term issuer default ratings at BBB and revised the outlook to positive from stable.

The agency affirmed the bank's short-term issuer default ratings at F2.

The outlook revision reflects the continuing diversification of the Russia-based bank's operations in central and eastern Europe, further improvements in its risk management policies and better business environment.

In September, the agency revised the outlook on Russia's long-term foreign- and local-currency issuer default ratings to positive from stable, based on the country's improved macroeconomic stability.