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S&P affirms, withdraws ratings of VTB Bank's German unit

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S&P affirms, withdraws ratings of VTB Bank's German unit

S&P Global Ratings on Dec. 22 affirmed VTB Bank (Deutschland) AG's BB/B long- and short-term issuer credit ratings and subsequently withdrew them.

The ratings were withdrawn at the request of the JSC VTB Bank unit. The outlook was stable at the time of withdrawal.

S&P noted that VTB Bank (Deutschland) will be the center of VTB group's European operations, with the Austrian and French operations being merged into the German entity.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.