S&P Global Ratings on May 24 revised the outlook on Russia-based Credit Union Payment Center LLC's long-term issuer credit ratings to positive from stable and affirmed the rating at BB.
The company's short-term issuer credit ratings was also affirmed at B.
The agency said the outlook change reflects parent firm Center of Financial Technologies Group's resilient operating efficiency amid challenging market conditions in recent years and better business prospects. S&P could upgrade Credit Union Payment Center if CFT Group continues to be resilient, the agency added.
This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings document referred to in this news brief can be found here.
