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Fitch rates Housing Finance Bank long-term CCC+
Fitch Ratings said it has assigned ratings to Russia's Housing Finance Bank of long-term CCC+, short-term C, individual D/E, support 5 and national long-term B+(rus).
The outlooks on the long-term and national long-term ratings are stable.
The ratings reflect the domination of intra-group transactions on the bank's balance sheet, the bank's limited franchise, small size, high loan concentrations and potentially weak liquidity and profitability, Fitch said.
But the ratings also take into account the bank's high capital ratios and adequate asset quality to date, Fitch said.
Potential upward pressure on the ratings could result from a significant expansion of the bank's franchise and business diversification. Downward pressure could result from deterioration in capitalization, further pressure on liquidity or a reduction of asset quality, Fitch said.
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