Fitch lifts Raiffeisenbank, Raiffeisenbank (Bulgaria)

Fitch Ratings said it upgraded Raiffeisenbank (Bulgaria) EAD's long-term issuer default rating to BBB from BBB- and revised AO Raiffeisenbank's outlook to positive from stable.

Fitch also said it affirmed the Raiffeisenbank's long-term issuer default ratings at BBB-.

The outlook is stable.

The banks' viability ratings are unaffected by these rating actions.

The actions are driven by a credit reassessment of Raiffeisen Bank International AG, which is the parent of Raiffeisenbank and Raiffeisenbank (Bulgaria).

The ratings reflect the high probability the banks would receive support from the parent back, if needed, Fitch said.

The banks continue to have strategic importance to the parent bank in Russia and Bulgaria, the agency added.

Raiffeisenbank's ratings are constrained by the Russian country ceiling of BBB-.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.