Fitch: Banque Gabonnaise view to positive

Fitch Ratings said it revised Banque Gabonnaise de Developpement's outlook to positive from stable and affirmed its long-term issuer default rating at B+.

The agency also said it affirmed the bank's short-term issuer default rating at B and senior unsecured 10 billion in Central African franc bond at B+ with a recovery rating of RR4.

The outlook revision follows the revision of Gabon's outlook, Fitch said.

The banks ratings are driven by potential support from the Gabonese state, if required, the agency said.

Given the bank's public mandate and key role in Gabon's economic development, Fitch said it believes that Gabon would be highly likely to support the bank.

The ratings are constrained by Gabon's moderate credit quality, the agency said.

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