Fitch ups International Bank of Azerbaijan

Fitch Ratings said it upgraded International Bank of Azerbaijan's (IBA) long-term issuer-default rating to B- from RD (restricted default) and viability rating to ccc from f.

Fitch said the upgrades follow the completion of IBA's debt restructuring on Sept. 1 and the latest transfer of bad assets off the bank's balance sheet, which the agency expects to be completed shortly.

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