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Fitch revises Absolut Bank outlook

Fitch Ratings on Oct. 10 revised the outlook on Russia-based Absolut Bank (PAO)'s long-term foreign- and local-currency issuer default ratings to stable from negative, while affirming the ratings at B+.

The short-term foreign-currency issuer default ratings were affirmed at B.

The agency also affirmed the bank's "b+" viability rating, its 5 support rating and the support rating floor of No Floor.

The stable outlook reflects expected improvement in the bank's capital position once some assets deemed risky by Fitch have been transferred to non-state pension fund Blagosostoyanie, the bank's shareholder.