Fitch upgrades Expobank

Fitch Ratings said it upgraded Expobank LLC's long-term issuer default rating to B+ from B with stable outlook

The upgrade mainly reflects the company’s long track record of successfully managed and capital-accretive acquisitions of banking assets, Fitch said.

The upgrade also considers the bank’s ability to maintain reasonable asset quality and capitalization, improved core banking profitability and adequate liquidity, the agency said.

Fitch added that Expobank’s recently announced acquisition of Royal Bank of Scotland Russia is unlikely to impact the rating.

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