S&P rates Ural Bank ruBB

Standard & Poor's said it assigned its ruBB Russia national scale rating to Russia-based Ural Bank for Reconstruction and Development. At the same time, the CCC+ long-term and C short-term counterparty credit and certificate of deposit ratings were affirmed.

The outlook is stable.

The ratings reflect the bank's high related-party exposures in assets, low operating efficiency and profitability, and low capitalization.

These negative factors are, however, somewhat mitigated by the bank's strengthening franchise and good growth prospects in its home region of Sverdlovsk Oblast (B+/stable/--), supported by the fast-growing Russian economy.

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