Fitch: Stable view for ProCredit Bank Serbia

Fitch Ratings said it revised the outlook on ProCredit Bank Serbia's long-term issuer default ratings to stable from negative, and affirmed its long-term foreign-currency issuer default rating at BB-, short-term foreign-currency issuer default rating at B, long-term local-currency issuer default rating at BB and short-term local-currency issuer default rating at B.

The outlook change follows the revision of the outlook on Serbia's long-term issuer default rating to stable from negative.

The ratings are based on a view of the potential support the bank is likely to receive from its 83% owner, ProCredit Holding AG, Fitch said.

The ratings are constrained by the potential country risk, as captured in Serbia's country ceiling of BB-, the agency said.

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