Fitch affirms Pakhta Bank

Fitch Ratings said it affirmed Pakhta Bank's long-term issuer default rating at B- and short-term issuer default rating at B.

The outlook remains stable.

The ratings are underpinned by potential support from the Uzbek authorities, Fitch said. Improvement or deterioration in Uzbekistan's sovereign risk profile could generate upward or downward pressure on the ratings, the agency said.

The ratings also reflect the bank's size, high and concentrated risk profile, modest profitability and weaknesses in the operating environment, Fitch said.

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