Fitch agency upgrades NOMOS-BANK long-term rating outlook to “positive”

Fitch international rating agency has changed NOMOS-BANK long-term rating outlook from “stable” to “positive”. This upgrade reflects better than expected performance of Russia’s banking sector during the global economic crisis, indicates the Agency’s press release.

“The Fitch rating outlook upgrade proofs that NOMOS-BANK’s performance is in line with the general positive trends typical for the banking industry as a whole”, notes Yuriy Lekarev, Vice President of NOMOS-BANK.

According to the Agency, the outlook upgrade reflects the potential for upgrading the Bank’s rating in the future. Such decision can be taken after examination of the Bank’s current financial positions and evaluation of prospects. Presently, NOMOS-BANK credit ratings have remained at the previous level: long-term rating — “B+”, national long-term rating “А(rus)”.

Assessing the situation in the Russian banking sector the Agency has noted “the strengthening of certain aspects of market infrastructure during the crisis, particularly as regards the bank’s ability to obtain access to liquidity when necessary”, as well as the readiness of the majority of the rated banks to “sustain significant stress in terms of asset quality affected by the crisis without the need to receive emergency capital support from shareholders or Russian authorities”.