Fitch ups King's Town Bank view to positive

Fitch Ratings said it revised the outlook on both the long-term issuer default rating and national long-term rating of King's Town Bank to positive from stable.

The agency also said it affirmed its long-term foreign-currency issuer default rating at BB+, short-term foreign-currency issuer default rating at B, national long-term rating at A-(twn) and national short-term rating at F1(twn).

The outlook revision reflects steps taken by the bank, which have improved loan quality and underwriting standards, Fitch said.

It also considers new strategies implemented by the bank, which appear to place it on a path to achieve prudent growth and diversification, the agency said.

The ratings reflect its ability to maintain strong core capitalization and sound liquidity, as well as ongoing improvement in asset quality, Fitch said.

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