Fitch lifts Alfa-Bank to BBB-

Fitch Ratings said it upgraded Alfa-Bank's long-term issuer default ratings to BBB- from BB+. The outlooks are stable.

Fitch also upgraded the long-term IDR of Alfa's holding company, ABH Financial Ltd., to BB+ from BB.

The upgrade reflects Fitch’s revised outlook on Russia's operating environment score to stable from negative and the belief that credit risks stemming from Alfa's rapid expansion into unsecured retail lending have moderated.

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