Fitch rates Fibabanka notes BB-

Fitch Ratings said it assigned Fibabanka AS' upcoming issue of $300 million senior unsecured notes an expected long-term rating of BB-(EXP).

The issue is expected to have a five-year tenor.

Fitch said the senior unsecured notes are rated at the same level as Fibabanka’s long-term foreign-currency issuer default rating (IDR), as the notes constitute the bank’s direct, unconditional, unsubordinated and unsecured obligations and will rank pari passu among themselves and with all of the bank's other unsubordinated and unsecured obligations.

The long-term issuer default rating is in turn driven by the bank's standalone strength, as reflected in its viability rating of bb-.

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