ProCredit Bank Bulgaria affirmed at 'BB+' with stable outlook - Fitch |
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Wed, 24 Oct 2007 16:55
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MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed the ratings of ProCredit Bank, Bulgaria (PCB) at long-term foreign currency IDR 'BB+' with a stable outlook.It also affirmed short-term foreign currency IDR 'B', long-term local currency IDR 'BB+' with a stable outlook, short-term local currency IDR 'B', individual 'D' and support '3'.Fitch said PCB's long-term IDR, short-term IDR and support rating reflect potential support available from its 59 pct-owner, Frankfurt-based ProCredit Holding AG, which it has rated 'BBB-'/'F3' with a stable outlook.The individual rating reflects the bank's small size, tight capitalisation and the credit and operational risks associated with rapid growth, good asset quality to date and adequate profitability, Fitch added.TFN.newsdesk@thomson.comrsh/pmiCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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