trending Market Intelligence /marketintelligence/en/news-insights/trending/PY05oyoGB7zW6EOvsab32A2 content esgSubNav
In This List

S&P upgrades Russia's West Siberian Commercial Bank

Blog

Balance Sheet Strategy in an Unusual Rate Environment

Blog

Investors' Views of the Industry Today & the Outlook for Tomorrow

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion


S&P upgrades Russia's West Siberian Commercial Bank

S&P Global Ratings upgraded the long-term issuer credit rating of Russia-based PJSC West Siberian Commercial Bank to BB+ from B+, with a positive outlook.

The rating agency also removed the long-term rating from CreditWatch with positive implications, where it was placed Nov. 15, 2018, and affirmed the short-term issuer credit rating at B.

The upgrade comes after VTB Bank PJSC completed its acquisition of West Siberian Commercial Bank. Following the acquisition, West Siberian Commercial Bank would be considered a strategically important unit of VTB, which is expected to provide extraordinary support if needed, S&P noted.

The positive outlook, meanwhile, reflects S&P's assumption that the integration and full merger of the bank into VTB would be completed by May 2020.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.