The FINANCIAL - Fitch Affirms Georgias Basisbank at "B-"; Outlook Stable

Fitch Affirms Georgias Basisbank at "B-"; Outlook Stable

10/08/2012 06:24 (287 Day 23:34 minutes ago)

The FINANCIAL -- Influential rating agency “Fitch Ratings” has affirmed JSC “BasisBank” Long-term Issuer Default Rating (IDR) at B- and Short-term Issuer Default Rating at B with a Stable Outlook.

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The affirmation reflects BasisBank’s generally reasonable financial indices, quite conservative management and the currently favourable Georgian operating environment.

As BasisBank reported, Fitch ratings claims that stability of financial indices and management in JSC BasisBank are the reasons for future rise of the rating.

Acquisition of the equity stake of BasisBank by Hualing Group is also a positive guarantee for stability. Hualing Group considers BasisBank as autonomic business.

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