Sberbank - Annual Report 2010 - International Credit Ratings

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# International Credit Ratings

Sberbank’s International credit ratings are of investment grade and match or exceed sovereign ratings:

Sberbank’s Long-term ratings:

Year | Fitch | Moody's
--- | --- | ---
2003 | BB+ | Ba1
2004 | BBB- | Ba1
2005 | BBB | Baa2
2006 | BBB+ | Baa2
2007 | BBB+ | Baa2
2008 | BBB+ | Baa1
2009 | BBB | Baa1
2010 | BBB | Baa1

Ratings assigned to Sberbank’s international obligations, 2010:

| Fitch Ratings | Moody's
--- | --- | ---
Borrowings under MTN Programme | BBB | A3
Russian Federation Eurobonds | BBB | Baa1

In 2010, the international rating agencies revised Sberbank’s assigned ratings:

- On 22 January 2010, Fitch Ratings changed its outlook on Sberbank’s long-term foreign currency Issuer Default Rating from Negative to Stable (currently at ВВВ).
- On 21 July 2010, Moody’s changed its outlook on Sberbank’s Financial Strength Rating (individual bank rating) from Negative to Stable. According to agency analysts, ‘the revision was prompted by gradual stabilization of Sberbank’s financial performance’.

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