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Moody's assigns ratings to National Credit and Commerce Bank

Moody's assigned first-time ratings to Bangladesh-based National Credit & Commerce Bank Ltd., or NCC Bank.

The rating agency said Jan. 15 that it assigned the bank B1/Not Prime long- and short-term local and foreign currency deposit and issuer ratings, with a stable outlook. It also assigned the bank a baseline credit assessment and adjusted baseline credit assessment of "b2."

The bank's deposit and issuer ratings are based on its "b2" baseline credit assessment and one notch of uplift due to moderate probability of public support from the Bangladesh government when needed, Moody's said. The baseline credit assessment reflects the bank's modest solvency and funding, as well as its ample liquidity.

The stable outlook on NCC Bank's ratings reflects Moody's expectation that the lender's key financial metrics will remain broadly unchanged in the coming 12 to 18 months.