Baku, Azerbaijan, Oct.3
Trend:
Fitch ratings has affirmed Azerbaijan-based AccessBank`s (AB) long-term issuer default rating (IDR) at "C". Fitch has simultaneously withdrawn the ratings for commercial reasons and will no longer provide rating and analytical coverage of AB. A full list of rating actions is at the end of this action commentary.
On August 31, 2018 Fitch downgraded AccessBank`s long-term issuer default rating to "C" from "BB-" following the bank`s standstill arrangement with foreign creditors. Fitch has affirmed the ratings of AB prior to withdrawal due to limited changes to its credit profile since the downgrade.