Fitch boosts National Bank Trust

Fitch Ratings said it upgraded National Bank Trust's (NB Trust) ratings to long-term B- from CCC+ and short-term B from C.

Its other ratings are affirmed at support 5 and individual D/E, the agency said, noting the outlook on the long-term rating is now stable.

Fitch said the upgrade reflects the recent positive trends in NB Trust's business and funding base in 2005, including growth in its customer and deposit base.

However, NB Trust's long-term, short-term and individual ratings also reflect the credit and operational risks associated with rapid growth, notably in retail lending in which the bank has only limited experience, the agency added.

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