Fitch affirms Ak Bars

Fitch Ratings said it affirmed Ak Bars Bank's long-term issuer default rating at BB, short-term foreign-currency issuer default rating at B and national long-term rating at AA-(rus) with a stable outlook.

Ak Bars' ratings reflect the potential for support from the government of the Republic of Tatarstan (BBB-/stable), the agency said. Fitch's view of the high propensity to provide support is based on the republic's direct and indirect shareholder control, its strong board representation, the track record of liquidity and capital injections and the systemic importance of the bank to the region.

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