Fitch: Probusinessbank view positive

Fitch Ratings said it affirmed Probusinessbank's long-term and local-currency issuer default ratings at B-, national long-term rating at BB+(rus), short-term issuer default rating at B, individual rating at D, support rating at 5 and support rating no floor.

The outlook was revised to positive from stable.

Fitch said the outlook change reflects greater capital flexibility, strengthened shareholder oversight and more focused management following the attraction of new portfolio equity investors at the end of 2006. The outlook also considers strengthening of the bank's retail franchise and reduced loan concentrations.

Ratings are supported by low levels of corporate loan impairment and by adequate liquidity, according to the agency.

Ratings also consider account rapid asset growth, weak performance, significant impairment in the retail loan book and a tougher funding environment, which may make it harder to bolster the franchise and achieve greater economies of scale, the agency said.

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