Friday, January 27 2012 18:13

Fitch Affirms & Withdraws ACBA Credit Agricole's Ratings


ArmInfo. Fitch Ratings has affirmed and withdrawn the ratings of Armenia's CJSC ACBA-Credit Agricole Bank (ACBA), including its Long-term Issuer Default Rating (IDR) of 'BB-' with a Stable Outlook. A full list of rating actions is at the end of this comment.

Fitch Ratings CIS reports that Fitch has withdrawn the ratings as ACBA has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, the agency will no longer provide ratings or analytical coverage for the bank.

The following ratings have been affirmed and withdrawn:

Long-term IDR: affirmed at 'BB-', Outlook Stable; withdrawn

Short-term IDR: affirmed at 'B'; withdrawn

Viability Rating: affirmed at 'b+'; withdrawn

Support Rating: affirmed at '3', withdrawn
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