MOSCOW, Sep 4 (PRIME) -- International rating agency Fitch has affirmed the long-term issuer default ratings (IDRs) of two Europe-based subsidiaries of Russia’s top lender Sberbank -- Sberbank Switzerland and Sberbank Europe -- at BBB- and BB+, respectively, with positive outlooks, the agency said in a statement on Tuesday.
“The banks' IDRs… reflect Fitch's view that they are likely to be supported by their ultimate parent, Sberbank of Russia, in case of need… and are also underpinned by potential state support from Russia,” the agency said.
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