...Parental Support: The IDRs of the banks included in this report reflect Fitch Ratings' view that their parents will have a strong propensity to provide support, if required. This stems from their majority ownership, the level of parent-subsidiary integration, common branding, commitment to the Russian market, and the subsidiaries' limited size (except for Raiffeisen) ¡ making them easy to support. Country Ceiling Constraint: The banks' IDRs and senior debt ratings are constrained by Russia's Country Ceiling of `BBB-'. The Negative Outlooks reflect the potential for the banks to be downgraded if Russia's sovereign ratings are downgraded and the Country Ceiling lowered. VRs Amongst the Highest in CIS: The `bbb-` and `bb+' Viability Ratings (VRs) of the banks' included in this report reflect Fitch's view that these are some of the strongest banks in the CIS on a standalone basis. This is due to the banks' reasonable financial metrics, exposure to better-quality Russian borrowers, stable liquidity...
