Standard & Poor’s Rating Services (S&P) raised its long-term counterparty credit rating on Troika Dialog to "BB-" from "B+". At the same time S&P raised its Russia national scale rating on Troika Dialog to "ruAA-" from "ruA". To date, it is the highest counterparty credit rating placed on a Russian investment bank. Troika Dialog "B" short-term rating was affirmed. The outlook is stable.
"We are delighted that the credit ratings were resolved within such a short period of time – less than a year since they were first placed on Troika Dialog. The fact that the international rating service placed such a high rating on Troika proves credibility of our company among international experts," Sanya Zezulin, Troika Dialog Managing Director, CFO, said. "This is news of great significance for us and our clients," she added.
According to Standard & Poor’s report, the upgrade is based on the creditworthiness of Troika Dialog Group, which form one of Russia’s leading brokerage, asset management, and investment banking groups.
S&P placed its credit ratings on Troika Dialog in April 2006. On December 19, 2006, the "B+" long-term counterparty credit rating and "ruA" Russia national scale rating were placed on CreditWatch with positive implication. On March 16, 2007, Troika Dialog’s credit ratings were removed from CreditWatch with the upgrade.