Fitch affirms ProCredit Bank

Fitch Ratings said it has affirmed ProCredit Bank's long-term foreign currency issuer default ratings at BB- and its long-term local currency issuer default rating at BB.

The agency said it has also affirmed the bank's short-term foreign and local currency issuer default ratings at B, individual rating at D/E and support rating at 3.

The outlooks on the long-term issuer default ratings are negative.

According to the agency, the issuer default ratings and support rating reflect Fitch's view of the potential support that would be forthcoming from the bank's 83%-owner, ProCredit Holding AG (rated BBB-/outlook stable), in case of need.

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