Fitch: Industrialbank still on evolving watch

Fitch Ratings said it is keeping Industrialbank's long-term CCC, short-term C and individual D/E ratings on Rating Watch Evolving.

Fitch noted the bank's support rating is 5.

Fitch said that while the merger between Industrialbank and MT-Bank, on which the resolution of the Rating Watch Evolving depends, is now complete, only once the agency has received additional information on the merger will it be in a position to assess its impact, if any, on Industrialbank's ratings.

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