Fitch ups Promsvyazbank view to positive

Fitch Ratings said it changed the outlook on Promsvyazbank's long-term issuer default rating to positive from stable. The bank's ratings are affirmed at long-term issuer default rating at B+, short-term issuer default rating at B, individual rating at D and support rating at 5.

The positive outlook reflects a continued broadening of the bank's customer franchise and regional expansion, Fitch said. The agency said it also takes a positive view of its track-record of well-managed growth reflected in low loan impairment and healthy bottom-line performance.

The ratings are still constrained by high borrower concentration, which puts pressure on capitalization and risks inherent in the bank's continuous rapid loan growth, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.