Finance

Finance

Standard & Poor's and Fitch Ratings confirm credit ratings of PASHA Bank

27 December 2013 08:30 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. The Standard & Poor’s and Fitch Ratings confirmed ratings of PASHA Bank OJSC.

According to the Bank, Fitch Ratings confirmed long-term issuer default rating (IDR) at “B+” level, short-term IDR at “B” level, forecast of rating change is “stable”.

In turn, the Standard & Poor’s confirmed long-term IDR of PASHA Bank at “BB-“ level, short-term IDR – at “B” level, forecast of rating change is “stable”.

“This is the highest rating among all private banks of the country with 100% local capital and the second best rating among all the private banks of Azerbaijan”, - the Bank informs.

According to Taleh Kazimov, Board member, the Chief Investment Director of PASHA Bank OJSC, confirmation of the Bank’s rating by the leading international agencies means that the bank is headed in the right direction. He noted that the ratings confirmed for our Bank show the true business position, moderate risk positions and appropriate liquidity indexes of the Bank.