Fitch ups International Bank of Azerbaijan viability

Fitch Ratings said it affirmed International Bank of Azerbaijan's long-term issuer-default rating at B- with a stable outlook.

The agency also resolved the rating watch evolving on the bank’s viability rating and upgraded it to b- from ccc.

Fitch said the upgrade of the viability rating reflects improved profitability and reduced pressure on capitalization stemming from a large short foreign currency position.

The viability rating is also supported by International Bank of Azerbaijan’s currently low-risk asset structure and comfortable liquidity position after a restructuring in 2017, the agency noted.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.