Fitch rates IKB Deutsche BBB

Fitch Ratings said it published IKB Deutsche Industriebank AG’s long-term issuer default rating of BBB and viability rating of bbb. The outlook is negative.

“The VR drives the long-term IDR and reflects IKB’s modestly diversified business model, focused on unsecured domestic public development loans (PDLs) and commercial lending to midcap companies. The ratings benefit from IKB’s adequate capitalization, as well as funding and liquidity profile, and we expect recent improvements in IKB’s earnings and capitalization to be largely sustained,” Fitch said in a press release.

The agency noted the outlook reflects the view the economic and financial market fallout from the pandemic will exert some pressure on IKB’s asset quality and profitability.

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