Standard & Poor's: Russia-Based Vneshprombank 'D' Ratings Affirmed And Then Withdrawn On License Revocation
January 25, 2016
Standard & Poor's Ratings Services said today that it had affirmed its 'D' long- and short-term counterparty credit and long-term Russia national scale ratings on Foreign Economic Industrial Bank (Vneshprombank). The ratings were subsequently withdrawn.
The rating actions follow the Central Bank of Russia (CBR)'s revocation of Vneshprombank's banking license on Jan. 21, 2016. We understand that following the banking license withdrawal, the CBR will start the process of settling the bank's obligations to creditors in accordance with bankruptcy law.
Company — Vneshprombank
Full nameForeign Economic Industrial Bank