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Fitch downgrades TsesnaBank

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Fitch downgrades TsesnaBank

Fitch Ratings on Dec. 20 downgraded TsesnaBank JSC's long-term issuer default rating to B from B+ and its viability rating to "b" from "b+" due its "deteriorating asset quality and profitability while its capitalization remains only moderate."

TsesnaBank's recently improved liquidity and its access to finance from state-controlled companies were factored into the new ratings, the agency said.