OREANDA-NEWS. Fitch Ratings has today affirmed Azerbaijan-based Kapital Bank's ("Kapital") ratings at Issuer Default 'B+' with a Stable Outlook, Short-term 'B', Individual 'D/E' and Support '4'.

Kapital's Issuer Default, Short-term and Support ratings reflect Fitch's view of the limited probability of support being forthcoming from the bank's sole shareholder (the Azerbaijani Ministry of Finance, "MOF"), in case of need. This view takes into account the relatively strong propensity of MOF to provide timely support and its ability to do so (sovereign IDR of 'BB').

The former is based on Kapital's state ownership and its important role in serving state needs (namely, distribution of budget, pensions and certain social payments) through its national network.