Fitch trims Fibabanka

Fitch Ratings said it lowered Fibabanka AS’ local-currency rating to B- from B and affirmed its foreign-currency issuer default rating at B-.

The downgrade considers the bank's qualifying junior debt buffer is unlikely to remain clearly and sustainably above 10% of risk-weighted assets. The agency said it considers this a level adequate to protect senior obligations in default.

The outlook is negative.

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