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Fitch trims TBC Bank, Bank of Georgia to stable view
Fitch Ratings said it affirmed the long-term issuer default ratings of JSC TBC Bank Group and JSC Bank of Georgia at BB- and revised the outlooks to stable from positive.
Fitch also said it affirmed the long-term issuer default ratings of JSC Liberty Bank at B+ and Procredit Bank (Georgia) at BB+ with stable outlooks.
The ratings are driven by the banks' intrinsic strength as reflected by their viability ratings, the agency said.
The bank's senior unsecured debt is rated in line with its long-term issuer default rating, Fitch said.
The outlook revision to stable on TBC Bank and Bank of Georiga reflects a view of still significant risks associated with continued rapid loan growth and sizable foreign-currency lending, the agency said.
The ratings reflect the banks' exposure to the relatively high risk of the Georgian operating environment, Fitch added.
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