Fitch rates Alliance Bank notes BB-

Fitch Ratings said it affirmed Alliance Bank's issuer default rating at BB-, short-term rating at B, individual rating at D and support rating at 3. Fitch also assigned the upcoming euro issue of senior unsecured notes under Alliance's and ALB Finance BV's $1.5 billion global medium-term note program an expected long-term BB- rating.

The final rating is contingent on the receipt of final documents conforming to information already received. The program's ratings for senior unsecured notes are long-term BB- and short-term B.

The outlook remains stable.

The ratings reflect Fitch's view of the moderate likelihood of state support being available to Alliance if needed and the risks associated with Alliance's rapid growth and tight capitalization.

The ratings also considers the bank's successful business development, sound asset quality to date and adequate liquidity, the agency said.

© 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.