Fitch lifts Home Credit view to stable

Fitch Ratings said it revised the outlook on Home Credit & Finance Bank Ltd.’s long-term issuer default ratings to stable from negative and affirmed its issuer default ratings at B+.

The bank’s viability rating also was affirmed at B+, along with the B rating on the subordinated debt issued by Eurasia Capital SA with a recovery rating of RR5.

The outlook revision reflects reduced downside risks to the bank’s capitalization due to recent improvement in asset quality and performance thanks to the solid earnings of its Kazakh subsidiary, the agency said.

The ratings also consider the bank’s focus on the risky and overheated Russian consumer finance market and vulnerable asset quality and performance, Fitch said.

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