S&P Global Ratings 13 Oct 2017 left a long-term credit rating of the counterparty “B+” PJSC Bank “Financial Corporation OTKRITIE” in the Developing CreditWatch (“ratings on review, the situation is in the process of development”). The issue rating senior unsecured debt ‘B+’ remains in the CreditWatch Developing. Short-term credit rating was affirmed at “B”.
“Long-term credit rating “B+” Bank “FC Opening” was left in the Developing CreditWatch in connection with our opinion that some of the details of the financial recovery plan of the Bank is still not determined, for example, the amount of required support in the form of capital and the ability to merge with other financial institutions. We expect that this information will be received in the next 3-6 months and can have both positive and negative impact on the ratings of the Bank”, – stated in the materials of rating Agency.