Fitch lifts Locko-bank

Fitch Ratings said it lifted Locko-bank’s long-term issuer default rating and senior unsecured ratings to BB- from B+.

“The upgrade of Locko's ratings reflects the bank’s extended track record of shifting the business mix towards lending to mass affluent retail customers from concentrated and sometimes opportunistic corporate lending, while maintaining reasonable asset quality and performance, comfortable capitalization and ample liquidity,” Fitch said in a press release.

The outlook is stable.

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