Russia-Based Krayinvestbank 'B/B' And 'ruBBB+' Ratings Put On Watch Negative Because Of Risks To Its Capitalization
December 7, 2015
Standard & Poor's Ratings Services said today that it had placed its 'B/B' long- and short-term counterparty credit ratings, as well as its 'ruBBB+' Russia national scale rating on Krayinvestbank on CreditWatch with negative implications.
Standard & Poor's believes that Krayinvestbank's further divestment of real estate assets may slow considerably because the ownership of land the bank sold in May 2015 is being challenged in court. In particular, this lawsuit relates to a plot sold by the City of Krasnodar to a number of companies in December 2014.
Company — Krayinvestbank