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S&P revises outlook on VEB-Leasing

S&P Global Ratings on March 27 revised the outlook on VEB-Leasing JSC to developing from negative, following a similar action on the bank's parent company, Vnesheconombank.

The agency also affirmed the unit's BB+/B long- and short-term foreign-currency, BBB-/A-3 long- and short-term local-currency counterparty credit ratings and "ruAAA" Russian national scale rating.

The developing outlook on VEB-Leasing reflects that on VEB as the rating agency considers the unit to be a core subsidiary of the parent company. The ratings and outlook on VEB-Leasing will move in tandem with those on VEB as long as it remains core to the group, according to the agency.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.