Fitch: Basisbank view to stable

Fitch Ratings said it affirmed Basisbank's long-term foreign-currency issuer default rating at CCC and short-term foreign-currency issuer default rating at C.

Its outlook was revised to stable from negative.

The outlook revision reflects the stabilization in non-performing loans creation in the second half of 2009, the still adequate capital position of the bank and the better prospects for the Georgian economy in 2010, Fitch said.

If the bank is able to demonstrate further stabilization of asset quality trends and continue to strengthen its funding profile, the agency said a rating upgrade could be possible.

Downside potential could resurface if further asset quality deterioration or a sharp deposit outflow is reported, Fitch added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.