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Fitch affirms CoBank
Fitch Ratings said it affirmed the long- and short-term issuer default ratings of CoBank, ACB at AA- and F1+, respectively.
The outlook is stable.
The affirmation reflects the bank's solid asset quality and strong operating performance, as well as its sound capital base and conservative liquidity management, the agency said.
The action also considers CoBank's planned merger with U.S. AgBank, which is scheduled to be effective Jan. 1, 2012, according to Fitch.
The merger is expected to provide the combined company with greater portfolio diversity, as well as provide opportunities for growth and improved operational efficiency.
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