International rating agency Moody`s has changed Sberbank's Ba1 long-term currency deposit rating outlook from "Stable" to "Positive"
Oct 12, 2004
Senior debt rating of Sberbank has been raised to Âàà2 which is above Russian Federation sovereign rating.
According to the Agency, the up-grading is due to the significant role of Sberbank in the Russian economy and national banking system, specifically in retail deposits.
Last year Sberbank issued three year floating rate notes at the international capital markets setting a benchmark by volume and pricing for banks in Russia and Eastern Europe and raising USD 1bn for the national economy.
Current credit ratings of Sberbank are the best among the Russian banks. In September of this year The Banker magazine named Sberbank "The Bank of the Year in Russia 2004" on the results of the contest.
Sberbank's Press Service