Fitch Cuts Outlook on 6 Russian Banks to `Stable' Amid Turmoil
Fitch Ratings cut its outlook for six Russian banks to ``stable'' from ``positive'' because of the problems they may have borrowing money and a possible deterioration in the quality of their loans.
The ratings of B.I.N Bank, National Bank Trust, National Reserve Bank, Nomos-Bank, Probusinessbank and Promsvyazbank remain unchanged, Fitch said in a report today.
Fitch doesn't plan ``widespread downgrades'' of Russian banks, citing the government's support for the financial system. Prime Minister Vladimir Putin this week pledged $50 billion for the banking industry to help refinance corporate foreign debt and fight ``contagion'' from the U.S. This adds to the previously announced $100 billion of emergency measures.