MOSCOW (Standard&Poor's) Oct 25, 2007--Standard&Poor's Ratings Services said today that it raised its long- and short-term counterparty credit ratings on Czech Republic-based bank Ceska Sporitelna a.s. (CS) to 'A' and 'A-1' from 'A-' and 'A-2'. The outlook is stable. The rating action follows the upgrade on Oct. 2, 2007, of the foreign currency rating on the Czech Republic to A/Stable/A-1 from A-/Positive/A-2. "The ratings reflect CS' operating in a well diversified economy with good growth prospects, as well as our expectation that the bank will maintain its good commercial and financial performance," said Standard&Poor's credit analyst Eugene Tarzimanov. The long-term rating includes a three-notch uplift from the stand-alone creditworthiness to reflect our expectation of
