Fitch affirms Bank CenterCredit

Fitch Ratings said it affirmed Bank CenterCredit's BB- issuer default rating, B short-term rating, D individual rating and 3 support rating.

The outlook remains stable.

The bank's issuer default, short-term and support ratings reflect Fitch's view of the moderate likelihood of support from Kazakhstan being available to the bank in case of necessity.

The individual rating reflects Bank CenterCredit's very rapid growth, the relatively high concentration in the bank's loan book, its modest capitalization and certain weaknesses in the operating environment, the agency said.

However, the individual rating also considers the bank's strong profitability, relatively well-diversified funding base and low reported levels of loan impairment to date, Fitch added.

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