Fitch revises Home Credit view to stable

Fitch Ratings said it revised Home Credit & Finance Bank LLC’s outlook to stable from negative and affirmed the bank’s long-term issuer default rating at BB-.

“The outlook revision reflects reduced pressure on HCFB’s credit profile from the pandemic, lower oil prices and the resulting economic contraction in Russia. Pre-impairment profitability has remained robust despite some contraction in interest and fee income, and, in Fitch’s view, would be sufficient to provide for further credit losses even in a longer and more severe downturn than currently anticipated. Asset-quality erosion has also been limited to date,” Fitch said in a press release.

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