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Fitch withdraws Azerbaijani bank’s ratings

Business Materials 15 June 2016 14:29 (UTC +04:00)
Fitch Ratings has affirmed Azerbaijan-based Unibank Commercial Bank's (Uni) ratings and simultaneously withdrawn them, the agency said June 15.
Fitch withdraws Azerbaijani bank’s ratings

Baku, Azerbaijan, June 15

By Azad Hasanli - Trend:

Fitch Ratings has affirmed Azerbaijan-based Unibank Commercial Bank's (Uni) ratings and simultaneously withdrawn them, the agency said June 15.

The following ratings have been affirmed and withdrawn:

Long-Term Issuer Default Rating: 'CCC'

Short-Term Issuer Default Rating: 'C'

Viability Rating: 'f'

Support Rating: '5'

Support Rating Floor: 'No Floor'

Unibank JSC was established Oct. 15, 2002, as a result of the merger of two private commercial banks in Azerbaijan - Mbank and Promtexbank.

Unibank's shareholders are as follows: Eldar Garibov - 68.3384 percent, Zemfira Jafarova - 5.5 percent, the European Bank for Reconstruction and Development - 15.1515 percent, German Investment, German Investment Corporation - 8.3333 percent, minority shareholders - 2.6768 percent.

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