Fitch lifts International Industrial Bank to BBB(rus)

Fitch Ratings said it upgraded International Industrial Bank's national long-term rating to BBB(rus) from BBB-(rus) and affirmed the issuer default and short-term ratings at B, individual rating at D and support rating at 5.

The outlook is stable.

The agency said the upgrade of the national long-term rating reflects the bank's sustained track record of adequate capitalization, liquidity and asset quality to date as well as the bank's improving transparency.

At the same time, the ratings reflect International Industrial Bank's limited franchise, concentrated balance sheet and declining profitability, Fitch said.

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