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Fitch withdraws DeltaCredit Bank's ratings


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Fitch withdraws DeltaCredit Bank's ratings

Fitch Ratings on Sept. 10 withdrew the ratings of Russia-based Commercial Bank DeltaCredit JSC, citing commercial reasons.

Prior to withdrawal, the rating agency affirmed the lender's BBB- long-term foreign- and local-currency issuer default ratings, with a positive outlook, along with its F3 short-term foreign-currency issuer default rating, "bb+" viability rating, 2 support rating and BBB- senior unsecured debt rating.

The issuer default and support ratings were driven by potential support for the bank from its ultimate parent, France's Société Générale SA, which owns DeltaCredit Bank through Russian subsidiary PJSC Rosbank. The viability rating, meanwhile, reflected the limited changes to the lender's credit profile since Fitch's last ratings action in January.