Fitch rates Bank of Industry and Mine long-term BB-

Fitch Ratings said it assigned Iran-based Bank of Industry and Mine a long-term rating of BB-, short-term B, individual D and Support 3.

The outlook is stable.

The ratings are in line with the sovereign ratings of Iran and reflect potential support from the Iranian authorities., the agency said, as the bank is wholly owned by the Iranian government and occupies a key role in financing Iran's industrial and mining sectors.

The D individual rating reflects a strong franchise in financing Iran's industrial and mining sectors, adequate profitability and capital ratios, the agency said.

It also takes into account low liquidity, relatively weak asset quality and the difficult operating environment.

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