Fitch confirms AccessBank's rating

The Fitch Ratings has confirmed the rating of Azerbaijan's AccessBank. The Bank's long-term issuer default rating (IDR) was confirmed at the level of "BB+" with Stable forecast – the highest among private banks of Azerbaijan.

Short-term IDR was affirmed at "Â" level and individual rating –at "D" level, the highest in the country. Confirmation of AccessBank`s ratings reflects Fitch`s opinion on possibility of providing support by its shareholders- international financial organizations. Individual "D" rating reflects high quality of assets, high indicators of efficiency, considerable reserve of liquidity and other capitalization.

Commenting on confirmation of the rating AccessBank's general manager Andrew Pospilovsky said repeated confirmation of AccessBank's rating by Fitch Ratings as the highest one among private banks in Azerbaijan proves the Bank`s stability and strength.

Fitch Ratings is a world known rating agency qualified to provide independent and perspective credit conclusions, researches and data to the world's credit markets. Having 50 representations in the world, Fitch Ratings's global practice based on acquisition of local market experience covers capital markets of over 150 countries. Fitch Ratings is recognized by investors, issuers and bank leaders thanks to reliability and transparency of its activity.

AccessBank is 100% owned by six international financial institutions: European Bank for Reconstruction and Development, International Finance Corporation, Black Sea Trade and Development Bank, German Bank of Development - KfW Development Bank (20% each), AccessHolding engaged in micro-finance sphere as a strategic investor (16.5 %) and LFS Financial Systems GmbH German company(3.5%).


/AzerTAc/