Fitch affirms Alfa Bank

Fitch Ratings said it affirmed Russia-based Alfa Bank's ratings at long-term B+, short-term B, individual D, support 4 and national long-term A(rus).

The outlooks on the long-term and national long-term ratings are stable.

The ratings reflect Alfa's large franchise, above-average risk management function, good asset quality, improved core earnings and reduced related-party and market risk exposures, the agency said.

Fitch went on to say that the ratings also consider the moderate capitalization and concentrated balance sheet of ABH Financial Ltd. (Alfa's holding company), its potentially vulnerable liquidity and certain weaknesses in the operating environment.

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