Credit of Russia’s biggest private bank gets upgraded to AAA
(MENAFN) Russia’s largest private lender, Alfa-Bank, has received a AAA credit rating from Chinese agency Lianhe Global, the bank announced on Friday. The rating signifies the highest level of creditworthiness, indicating very low default risk and strong capacity to meet financial obligations.
“Analysts from the agency conducted a thorough assessment and gave high marks to our systemic importance, asset quality, corporate governance, and clear development strategy,” said Alfa-Bank CEO Vladimir Verkhoshinskiy. He noted that the top rating is a key strategic asset for the bank’s international operations.
In 2024, Alfa-Bank became the first Russian bank rated by Lianhe Global (AA-), coinciding with the opening of branches in Beijing and Shanghai and the launch of a Chinese-language website and customer support service.
The move reflects deepening economic ties between Russia and China, especially amid heightened tensions and sanctions from the West following the Ukraine conflict. Major US-based credit agencies—Moody’s, S&P, and Fitch—suspended operations in Russia in 2022 under Western sanctions.
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