OREANDA-NEWS. Fitch Ratings has today affirmed International Bank of Azerbaijan's ("IBA") ratings at Issuer Default 'BB-' (BB minus), Short-term 'B', Individual 'D/E' and Support '3'. The Outlook on the Issuer Default rating ("IDR") is Stable.

IBA's IDR, Short-term and Support ratings reflect Fitch's view of the high propensity of the Azerbaijani authorities to support the bank, given the bank's systemic importance to the Azerbaijani banking sector and economy, and the state's majority ownership.

However, in light of the state's ability (indicated in the sovereign IDR of 'BB') to support the bank, there is only moderate probability of support being forthcoming in case of need.