FITCH WITHDRAWS RATINGS OF RUSSIA’S CONVERSBANK
August 21, 2008
Fitch Ratings has today withdrawn Russia-based Conversbank CJSC’s (Conversbank) ratings of Long-term Issuer Default (IDR) ‘CCC’/Stable Outlook, Short-term IDR ‘C’, Individual ‘D/E’, Support ‘5’, National Long-term ‘B+(rus)’/Stable Outlook and Support Rating Floor ‘No Floor’.
The rating withdrawal follows the termination of the banking licence of Conversbank following the bank’s merger (together with two other local banks) into Russian Investbank.
Company — CONVERSBANK