Fitch Ratings reaffirms high rating of PASHA Bank
Baku, Azerbaijan, Aug. 24
Fitch Ratings, an international rating agency, has reaffirmed the high rating of PASHA Bank, the leading corporate bank of Azerbaijan, the bank said in a message Aug. 24.
The bank’s long-term foreign currency Issuer Default Rating (IDR) and short-term IDR have been reaffirmed as ‘B+’ and ‘B’, respectively, according to the message. This rating is the highest among all privately-owned banks in Azerbaijan with 100 percent local capital.
The high ratings reflect the bank's reasonable financial metrics, comfortable capital and liquidity positions in the last 12 months. The rating agency also factors in PASHA Bank’s systemic importance in the market.
The Fitch Ratings assigned PASHA Bank’s first rating in September 2012.