trending Market Intelligence /marketintelligence/en/news-insights/trending/7XtX4o13ISnhsogmT3zbMg2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Fitch acts on Bank Zenit

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory


Fitch acts on Bank Zenit

Fitch Ratings on Jan. 27 upgraded PAO Bank Zenit's long-term foreign- and local-currency issuer default ratings and senior unsecured debt rating to BB from BB- and removed them from Rating Watch Positive.

The outlook on the long-term issuer default ratings is stable. Fitch downgraded Bank Zenit's viability rating to "b+" from "bb-" and affirmed its B short-term foreign-currency issuer default rating.

Fitch upgraded the bank's national long-term rating and national long-term senior unsecured debt rating to AA(rus) from A+(rus), removed the ratings from Rating Watch Positive and withdrew them. The agency also upgraded the support rating to 3 from 5 and removed it from Rating Watch Positive, while withdrawing the support rating floor, which was affirmed at No Floor.

The upgrade of the issuer default ratings, national ratings and support rating follows the increase of Russian oil firm PJSC Tatneft's ownership in the bank to 50.4% from 49% and Fitch's expectation that the stake will further increase due to the bank's 14 billion Russian rubles capital increase. The capital increase will include the conversion into equity of 9 billion rubles in subordinated loans provided by Tatneft.

The downgrade of the bank's viability rating reflects its weakened and still vulnerable asset quality, continued poor performance and only moderate capital cushion. The stable outlook on the bank's issuer default ratings reflects that on Tatneft and Russia.

As of Jan. 27, US$1 was equivalent to 59.60 Russian rubles.