Fitch Ratings announced it will revise ratings of the International Bank of Azerbaijan (IBA) in connection with the changes it made in methodology of assessment criteria of banks on December 20.
According to IBA’s press service, Fitch plans to use +/- modifiers for ‘ccc’ category. In accordance with this, bank’s viability ratings (VR) at ‘ccc’ is planned to be revised.
Change of outlooks will be announced in 2018. Earlier, Fitch Ratings has upgraded IBA Long-Term Issuer-Default Rating to 'B-' from 'RD' (Restricted Default).