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Fitch revises outlook on Russia-based MTS Bank

Fitch Ratings on May 22 revised the outlook on PJSC MTS Bank's long-term issuer default rating to stable from negative, while affirming the ratings at BB-, after a similar ratings action on parent company Mobile TeleSystems PJSC on May 15.

The Russia-based bank's short-term issuer default rating was affirmed at B and the support rating at 3. Its "b+" viability rating was unaffected.

The ratings actions reflect the agency's view that MTS Bank will likely receive support from its parent company when needed.