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Fitch assigns short-term issuer default rating to Interstate Bank

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Fitch assigns short-term issuer default rating to Interstate Bank

Fitch Ratings on Dec. 18 assigned Moscow-based Interstate Bank a short-term issuer default rating of B.

At the same time, the agency affirmed the bank's BB long-term issuer default rating, with a positive outlook.

The assignment of the short-term rating is in line with the agency's correspondence table from the long-term rating scale to the short-term rating scale.

The ratings take into account those of the bank's key shareholder, Russia, and reflects the agency's assessment of the sovereign's propensity to provide support to the lender in case of need.

The positive outlook reflects that on Russia's long-term issuer default rating.