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S&P: B.I.N.BANK unchanged
Standard & Poor's said its ratings and outlook on B.I.N.BANK (foreign and local currency B-/stable/C) remain unaffected by recent tax and legal claims against some oil companies of NK RussNeft OAO (not rated) and majority owner Mikail Gutseriev.
According to S&P, B.I.N.BANK is a related entity to RussNeft and is majority owned by the bank's president Mikail Shishkhanov, who is a relative of Gutseriev.
The bank's direct credit and funding exposure to RussNeft and Gutseriev and his family is limited, the agency said, adding that the impact on B.I.N.BANK's liquidity has been contained so far, despite additional pressure from the ongoing exercise of the put option on the bank's eurobond, which is being paid successfully.
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