Fitch affirms AgriBank

Fitch Ratings said it affirmed the long- and short-term issuer default ratings of AgriBank, FCB at AA- and F1+, respectively. Fitch affirmed AgriBank subordinated debt at A+.

The outlook is stable.

The affirmation of AgriBank's ratings reflects its consistent operating performance, good asset quality, sound capital base and a healthy liquidity position, the agency said.

Moreover, the ratings recognize that AgriBank is managed in a very conservative manner, the agency added. The bank has implemented risk management standards that minimize concentration risk in its portfolio and owing to its reliance on funding through a government sponsored entity; AgriBank has adopted prudent contingent liquidity and funding plans.

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