Fitch rates Medbank B

Fitch Ratings said it assigned Medicinos Bankas (Medbank) a long-term issuer default rating of B, short-term issuer default rating of B, individual rating of D, support rating of 5 and support floor of no-floor.

The outlook is stable.

The ratings reflect the small size of the bank and the challenges it faces in a competitive environment, Fitch said, along with the macro-economic conditions in Lithuania.

The ratings also consider manageable market risk and improving risk management systems in conjunction with the German development bank KfW, the agency said.

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