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Fitch revises outlook on Russia-based AO Raiffeisenbank

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Fitch revises outlook on Russia-based AO Raiffeisenbank

Fitch Ratings on Jan. 27 revised the outlook on Raiffeisen Zentralbank Österreich AG unit AO Raiffeisenbank to stable from negative and affirmed its long-term foreign- and local-currency issuer default ratings at BBB-.

The outlook revision on Raiffeisenbank reflects stabilization in the lender's credit metrics.

The rating agency also affirmed the ratings of UniCredit SpA unit JSC UniCredit Bank, Citigroup Inc. unit AO Citibank, and Société Générale SA units PJSC ROSBANK, LLC Rusfinance Bank and Commercial Bank DeltaCredit JSC. The outlooks on the five banks are stable.

In addition, Fitch withdrew the six banks' national long-term ratings, which were affirmed at AAA(rus), after the agency withdrew its Russian national-scale ratings in response to a new regulatory framework for credit rating agencies in Russia.