Fitch to revise rating of International Bank of Azerbaijan

Baku. 20 December. REPORT.AZ/ Fitch international rating agency announced about possible revision of the rating of International Bank of Azerbaijan (IBA) due to the changes made to evaluation methodology of banks.

Report was informed in the IBA press service. 

In accordance with change, Fitch plans to apply + and – modifications to the ‘ccc’ outlook rating. According to that, the current viability rating of IBA rated at “ccc” will be reconsidered. Depending on the risk profile the agency will assign the relevant outlook in 2018.

After successful restructuring of IBA Fitch increased the long-term rating of the bank in foreign currency to B- level.