trending Market Intelligence /marketintelligence/en/news-insights/trending/pl-2iljlpn5xhy3xc_couw2 content esgSubNav
In This List

S&P downgrades International Bank of Saint-Petersburg on payment moratorium

Blog

Banking Essentials Newsletter 2021: December Edition

Blog

Automating Credit Risk Surveillance Using Statistical Models

Blog

Post-webinar Q&A: Speed and Scalability – Automation in Credit Risk Modeling

Case Study

A Chinese Bank Takes Steps to Minimize Risks as it Supports International Trade


S&P downgrades International Bank of Saint-Petersburg on payment moratorium

S&P Global Ratings on Oct. 17 downgraded Russia-based International bank of Saint-Petersburg (JSC)'s long- and short-term issuer credit ratings to D/D from B-/B, following the Russian central bank's placement of the lender into provisional administration.

The rating agency noted that the three-month payment moratorium imposed on the bank will prevent it from meeting its obligations when they come due, and result in a general default.

S&P said any further ratings actions on the lender will depend on whether any financial rehabilitation procedures occur at some point, adding that it currently has no information on the probability or scope of such procedures.

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 in the sources section.