Fitch affirms Bank of Valletta

Fitch Ratings said it affirmed Bank of Valletta's long-term issuer default rating at A-, along with its short-term issuer default rating at F2.

The outlook is stable.

The ratings reflect its position as the largest bank in Malta, its conservative management, satisfactory liquidity and healthy capital ratios, Fitch said.

The ratings also factor in the bank's historically weak asset quality by international standards, which have improved in recent years, the agency said, and its reliance on Malta's small economy.

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