Fitch Ratings has affirmed International Bank of Azerbaijan`s (IBA) Long-term Issuer Default Rating (IDR) at `BB`.
The affirmation of IBA`s Long-term IDR at `BB` shows a stronger propensity of the authorities to support the bank, which is reflected in the 3 billion manats` clean-up of IBA`s balance-sheet, executed through buy-outs of impaired loans, and a planned 500 million manats` equity injection, which will support IBA`s solvency, according to the message.
Azerbaijan
10 March 2016
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The Azerbaijani Ministry of Finance`s stake in the country
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