Fitch Downgrades Russian Home Credit; Places 2 Other Retail Banks on Rating Watch Negative

April 17, 2015 5:51 PM

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(The following statement was released by the rating agency) MOSCOW, April 17 (Fitch) Fitch Ratings has downgraded Russia-based Home Credit & Finance Bank's (HCFB) Long-term Issuer Default Ratings (IDRs) to 'B+' from 'BB-' and its Kazakhstan-based subsidiary SB JSC Home Credit and Finance Bank (HCK) to 'B' from 'B+'.

The Outlook is Negative for HCFB and Stable for HCK. The agency has also placed the 'B' Long-term IDRs of Russian Standard Bank (RSB) and Orient Express Bank (OEB) on Rating Watch Negative (RWN). A full list of rating actions is available at the end of this commentary. KEY RATING DRIVERS - IDRS, VIA...

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