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S&P removes Otkritie Holding units from CreditWatch negative

Standard & Poor's Ratings Services on April 8 affirmedOtkritie Financial Corp.Bank's BB-/B long- and short-term counterparty credit ratings andthe B+/B long- and short-term counterparty credit ratings on unit .

The ratings were removed from .The outlook on the long-term ratings is negative.

S&P also affirmed the Russia national scale ratings on OtkritieFC Bank at ruAA- and on Khanty-Mansiysk Bank Otkritie at ruA.

The ratings action reflects S&P's expectation that thebanks' ultimate parent, OtkritieHolding JSC, will proceed with the financial rehabilitation ofNational Bank TRUSTPJSC on a stand-alone basis and not it with other banks in its bankingdivision in the next 12 to 18 months.

The negative outlook on both banks reflects the agency'sview of potential asset quality deterioration in the next 12 to 18 months, owingto Russia's continued economic slowdown.

S&P Ratings and Global Market Intelligence are ownedby McGraw Hill Financial Inc.