S&P sent the rating of “Open” on review for possible downgrade

International rating Agency Standard & Poor’s (s&P) has sent long-term rating of the Bank “FC Opening” BB – national scale rating ruAA – on review for possible downgrade. It is reported TASS with reference to the press release from the Agency.

Possible downgrade “Discoveries” reflects the Agency’s view that the financial profile of the holding company may deteriorate for a number of reasons: is the impact of the possible purchase of holding company of the insurance company “Rosgosstrakh”, the acquisition of the diamond mining company “Arkhangelskgeoldobycha” for $1.45 billion, and the long process of obtaining additional financing for the rehabilitation of the Bank “trust”.

The Agency intends to revise the rating within three months. As noted in the message S&P, the rating could be downgraded one or two levels.

The possibility of revising the rating of “Open” was one of the obvious options for buying unprofitable “Rosgosstrakh”, said one of the participants in the market.

Managing Director of National rating Agency Pavel Samiev believes that the negative developments in the CTP market in the next year “Rosgosstrakh” may need additional capitalization.