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Fitch upgrades ProCredit Bank

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Fitch upgrades ProCredit Bank

Fitch Ratings on Jan. 26 upgraded ProCredit Bank sh.a.'s long-term foreign- and local-currency issuer default ratings to B+/BB- from B/B+.

The outlook is stable.

Meanwhile, the B short-term foreign- and local-currency issuer default ratings were affirmed.

The upgrade reflects Fitch's view that the bank will receive support from parent ProCredit Holding AG & Co. KGaA. However, the extent to which this support can be factored into the unit's ratings is constrained by Fitch's assessment of risks relating to the Albanian sovereign.

Fitch sees little chances of restrictions being placed on servicing of local-currency obligations in case of systemic stress.