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S&P changes outlook on Russia's Bank Uralsib

S&P Global Ratings on May 29 affirmed the B-/B long- and short-term issuer credit ratings of Russia-based PJSC Bank Uralsib and revised the outlook to positive from stable.

The outlook revision reflects the expectation that the bank will continue to improve its business model and bolster its franchise in the 12 months, which will likely yield a more sustainable financial performance, the rating agency said.

S&P added that it expects Bank Uralsib to continue improving its operating performance as its expands in the retail and small and medium-sized segments. The agency also expects the bank's exposure to related-party loans to go down in the next 12 months.

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 documents referred to in this news brief can be found here.