Fitch Ratings withdrew LT Int. Scale (local curr.) credit rating for AK BARS Bank

June 19, 2017 - CBonds


Fitch Ratings withdrew LT Int. Scale (local curr.) credit rating for AK BARS Bank on June 16, 2017 previously rated "B".
Cbonds page: AK BARS Bank
Issuer profile:

AK BARS Bank is listed amongst Russia’s Top-20 banks. It was rated 16th in terms of equity and 18th* in terms of assets out of all Russian banks (*according to ‘Profile’ magazine as of 01.08.2014).

On the 1st of September 2014, the authorised capital of the Bank amounted to 28.2 billion rubles (862.09 US$ million). AK BARS Bank (Open JointStock Company) is registered with the Central Bank of Russia and has been operating successfully on the Russian financial market since 1993.

AK BARS Bank is a universal bank which develops corporate, retail and investment businesses.
AK BARS Bank has over 59,000 corporate customers and over 2.9 million individual ones. The Bank services large companies in the oil and gas , petrochemical, mechanical engineering, telecommunications, construction, chemical, and automotive industries, as well as agricultural and other commercial enterprises.

As of September 2014, the Bank’s network included 40 branches, 233 representative offices, 13 operational offices and 110 stand-alone cash desks operating in 30 regions of the Russian Federation.

Outstanding issues:
1 issuesRUB5,000,000,000
2 issuesUSD950,000,000
Issuer rating:
Moody's Investors ServiceB2/StableLT- foreign currency05/12/2017
Moody's Investors ServiceB2/StableLT- local currency05/12/2017
Fitch RatingsWithdrawn/LT Int. Scale (foreign curr.)06/16/2017
Fitch RatingsWithdrawn/National Scale (Russia)02/06/2017
Fitch RatingsWithdrawn/LT Int. Scale (local curr.)06/16/2017
Moody's Interfax Rating AgencyWithdrawn/National Scale (Russia)03/18/2016
AK&M Rating AgencyWithdrawn/National Scale (Russia)11/30/2009
RusRatingWithdrawn/International scale10/21/2016
RusRatingWithdrawn/National scale (Russia)10/21/2016