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Fitch revises Ameriabank's outlook

FitchRatings on May 5 affirmed Ameriabank CJSC's long-term issuer default rating at B+and revised the outlook on the rating to stable from negative.

The ratingagency also affirmed the bank's short-term issuer default rating at B,viability rating at "b+", support rating at 5 and support ratingfloor at No Floor.

Fitchalso affirmed fellow Armenian lender Industrial Construction Bank CJSC's long- and short-termissuer default ratings at B+/B, viability rating at "b+", supportrating at 5 and support rating floor at No Floor. The long-term issuer defaultrating of the lender, also known as Ardshinbank, carries a negative outlook.

Theoutlook revision on Ameriabank's long-term rating reflects Fitch's expectationthat the bank is likely to remain resilient to pressures from the difficultoperating environment. The rating agency noted that the lender has a fairlystrong ability to absorb impairments through earnings and improved capitalbuffer.

Thenegative outlook on Ardshinbank's long-term rating reflects the lender's morevulnerable credit profile due to the high-risk nature of some of its majorexposures. The outlook also reflects the bank's more moderate capacity toabsorb credit losses through pre-impairment profits and its smaller capitalbuffer.