Standard&Poor's Revised TransCredit Bank's Rating Outlook to "Positive"

On May 22, 2008 S&P announced its upgrade of TransCreditBank’s rating outlook from “stable” to “positive”. (http://www.standardandpoors.ru/article.php?pubid=4153&sec=pr

Simultaneously the agency confirmed the Bank’s long-term and short-term counterparty rating at BB/B by international scale and ruAA at national scale. S&P emphasized that such factors as TransCreditBank’s lasting relations with its major shareholder - JSC RZhD (BBB+/Stable), healthy returns on its core business, improving diversity of funding sources and expanding regional footprint have a positive effect on the Bank’s ratings. The “positive” outlook reflects S&P’s expectations that the Bank will continue strengthening its commercial positions underpinned by further increase of capital and strong business relations with JSC RZhD.

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