Fitch turns Global Bank view to negative

Fitch Ratings said it revised its outlook for Global Bank Corp. to negative from stable and affirmed its ratings, including its BB+ long-term issuer default rating, BB+ international debt rating and AA(pan) national rating.

“The negative outlook revision on GBC's LT IDR and LT national rating reflects Fitch's expectations about the potential continuation of the pressure on the bank's credit quality over the ratings horizon, as shown by the performance of its stage 3 loans and restructured loans post-pandemic, amidst a slight recovery in profitability,” the agency said in a statement.

© 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.