S & P downgraded the ratings of 11 Russian banks

Standard & Poor's, the international rating agency, produced a negative rating actions on 11 Russian banks: The ratings of four banks downgraded by one notch, the ratings of seven banks placed on CreditWatch with negative implications, the ratings outlook of one bank revised to "negative" . This is stated in a press release agency. "The analysis of the Russian banking sector (rating on liabilities in foreign currency 'BBB' / Negative / 'A-3'), we noted the continued sharp deterioration in asset quality and, given we have made estimates of loan losses, we are concerned about banks' ability to absorb these losses ", - said in a statement. In particular, S & P lowered its long-term credit ratings of Raiffeisenbank with the "BBB" to "BBB-" and revised to its forecast of a "negative" to "stable," UniCredit Bank "from" BBB "to" BBB-"(outlook Negative confirmed), Bank URALSIB 'from' BB 'from' B + '(Outlook Negative confirmed), JSC "PSB" from "BB-" to "B +" (long-term ratings placed on CreditWatch with a negative outlook). In addition, S & P placed the ratings of "Commercial Bank Petrocommerce, Alfa-Bank, Gazprombank, Ural Bank for Reconstruction and Development, Inc. Rosbank and the Bank" Revival "on CreditWatch with negative implications. Also, analysts have revised forecast Surgutneftegazbank from stable to negative, while the bank's rating was affirmed at 'B +'. According to the report, outlook revision reflects the ratings Surgutneftegazbank less likely to prompt a downgrade than other banks in respect of whom were taken negative rating actions. "We believe that the creditworthiness of the four banks, the ratings that we have lowered, has deteriorated much more than we thought previously. In particular, the rating actions reflect the significant deterioration in asset quality and reduce the possibility of absorption of losses ", - analysts say the agency. At the same time, they note that" putting ratings of seven other banks on CreditWatch with negative outlook indicates the financial institutions, the ratings are, we believe are likely to be reduced by at least one or two stages. "Portal Bank.ru Materials RIAN.