PRIME-TASS. International rating agency Fitch affirmed on Wednesday its long-term Issuer Default Rating (IDR) on Kraiinvestbank, based in the Krasnodar region, at B+, a stable outlook, the agency said in a press release.
Furthermore, the agency affirmed the bank’s long-term national scale rating of A-(rus), the short-term IDR rating of B, the support rating of 4, and also assigned a recovery rating of RR4.
The level of the bank’s ratings reflects a limited likelihood of the bank obtaining support from the government of the Krasnodar region, which holds 97.05% of the bank’s shares through the regional property relations department.
