MOSCOW, February 18 (RIA Novosti) - Fitch Ratings upgraded on Monday the long-term foreign and local currency ratings of Russia's Rosbank to A- from BB-, with a stable outlook.
The international rating agency said it had upgraded Rosbank's rating following an announcement on February 13 that Societe Generale had exercised its call option for 30% plus two shares, increasing its ownership in Rosbank to 50% plus one share.
"The ratings reflect Fitch's view that there is a high probability of support from Societe Generale for Rosbank, in case of need," the international rating agency said.
Rosbank is one of Russia's top thirty banks according to the Russian Central Bank.
