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Fitch Ratings revises AGBankâ€™s long-term IDR outlook to Negative

Fitch Ratings revises AGBankâ€™s long-term IDR outlook to Negative

22 April 2009 15:23 (UTC +04:00)

Baku. Vugar Israfilov â€“ APA-Economics. Fitch Ratings has affirmed Azerbaijan-based AGBankâ€™s long-term IDR at ’B-’ (B minus) revising Outlook to Negative from Stable, short-term IDR at ’B’, individual Rating at ’D/E’, Support Rating at ’5’ and Support Rating Floor at ’No Floor’.

Fitch said AGB’s ratings reflect its material loss absorption capacity, which should enable them to cope with a moderate further increase in loan impairment, manageable refinancing risk and currently stable liquidity positions, although the latter are dependent on the stability of mostly short-term customer funding.

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