PROMSVYAZ Standard & Poor's Ratings Services (S&P), international rating agency, has confirmed Promsvyazbank credit rating "BB-" with negative outlook after review for downgrade in October 2015.
S&P analysts note the recent bank's capital support in the amount of RUB 15.7 bn received from its majority shareholders as the main trigger for rating confirmation.
Promsvyazbank more than once proved its ability to raise capital in any macroeconomic environment. Total amount of capital injection in 2015 reached RUB 60 bn including RUB 30 bn subordinated loans from Deposit Insurance Agency under the government recapitalization program. Preferred shares issue is planned in 2016 and will contribute to further growth of tier-1 capital.
