S&P ups Orient Finans Bank

S&P said it raised its long-term issuer credit rating on Orient Finans Bank to B from B-.

“The upgrade reflects OFB’s increased capital buffer, which is above our previous assumptions. This is an effect of the bank’s solid financial performance, with strong recurring profits, no dividend distributions, and moderate lending growth over the past two years,” said S&P in a press release.

The outlook is positive.

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