. Last Updated: 07/27/2016

S&P Withdraws Its Menatep Rating

Menatep St. Petersburg, a bank owned by Group Menatep, had its ratings withdrawn by Standard & Poor's, the rating company said Monday.

"We have withdrawn our ratings due to lack of sufficient information to assess MSPb's credit quality,'' Standard & Poor's credit analyst Yekaterina Trofimova said in a statement.

"Legal and tax disputes between the government and the bank's management and owners have damaged MSPb's franchise,'' she said.

Group Menatep also owns 44 percent of Yukos. Shareholders of Group Menatep include Mikhail Khodorkovsky and Platon Lebedev, who are both in jail awaiting trail on fraud charges, which they have denied.

Khodorkovsky was arrested Oct. 25 after a four-month probe that included searches of Yukos' offices, its lawyers and an orphanage the company funds.