Fitch affirms some ProCredit banks

Fitch Ratings said it has affirmed the following ratings on the ProCredit banks in Albania, Bosnia & Herzegovina and Serbia:

ProCredit Bank Sha (Albania): foreign currency issuer default rating (IDR) B+; short-term foreign currency B; local currency IDR BB-; short-term local currency B; individual D/E; and support 4. The outlook is stable.

ProCredit Bank dd (Bosnia & Herzegovina): foreign currency IDR B; short-term foreign currency B; local currency IDR B+; short-term local currency B; individual D/E; and support 4. The outlook is stable.

ProCredit Bank AD (Serbia): foreign currency IDR BB-; short-term foreign currency B; local currency IDR BB; short-term local currency B; individual D/E; and support 3. The outlook is stable.

The IDRs, short-term and support ratings of the above ProCredit banks are based on Fitch's view of the potential support they are likely to receive from their owners, rated BBB- in case of need.

Fitch said the ratings take into account the centralized control and risk-management by ProCredit Holding and the banks' high degree of integration within the ProCredit group.

However, the potential support and hence the ratings are constrained by the potential country risk of Albania and Bosnia & Herzegovina and the BB- country ceiling of Serbia, respectively.

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