Fitch upgrades ABB’s long-term issuer default rating to BB+
Qabil Ashirov
Read moreInternational rating agency Fitch Ratings has upgraded the ratings of Azerbaijan’s ABB, raising the bank’s Long-Term Issuer Default Rating (IDR) from BB to BB+, AzerNEWS reports.
Fitch also upgraded ABB’s Viability Rating from bb to bb+, while maintaining a Stable Outlook on the bank’s ratings.
The upgraded ratings represent the highest ratings Fitch has assigned to ABB in the past 15 years. ABB’s current international ratings are also among the highest in Azerbaijan’s banking sector.
According to Fitch, the upgrade reflects ABB’s continued strong financial profile and improving risk profile. The agency highlighted the bank’s strong market position, resilient balance-sheet structure and solid financial performance as key factors behind the rating action.
Fitch expects ABB’s loan portfolio to continue expanding over the medium term, while asset quality and profitability are expected to remain strong.
The rating agency’s assessment underscores ABB’s strengthening financial position and its ability to maintain solid operating performance while expanding its lending activities.
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