Fitch: Finansbank bonds BBB-

Fitch Ratings said it assigned Finansbank AS' forthcoming medium-term issue of senior unsecured bonds an expected rating of BBB-(EXP).

The agency said the expected rating is in line with Finansbank's long-term foreign currency issuer default rating, which is driven by the bank's intrinsic financial strength, measured by the viability rating.

Despite on-going problems, Fitch said Finansbank has not been affected by National Bank of Greece, which controls 94.8% of Finansbank, or Greek-related contagion.

The agency said the company's management has demonstrated its ability to respond quickly to business cycle changes, while delivering solid profitability.

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