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Fitch lifts Alfa Bank view to stable
Fitch Ratings said it revised the outlook on Alfa Bank and holding company ABH Financial Ltd. to stable from negative.
The agency also affirmed Alfa's long-term issuer default rating at BB+ and ABH Financial's long-term issuer default rating at BB.
The outlook revision reflects the stabilization of the Russian operating environment and, as a result, reduced pressure on the bank's asset quality and performance, Fitch said.
The ratings, which are the highest of a Russian privately owned bank, reflect its well-developed franchise and access to top tier borrowers and depositors, sound management, improved asset quality, recovering profitability and good track record of managing through the cycle, the agency said.
The ratings also consider the risks relating to the Russian operating environment, significant cyclicality in the bank's performance and moderate regulatory capitalization, Fitch said.
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