OREANDA-NEWS. October 07, 2015. Fitch Ratings has assigned Pasha Yatirim Bankasi A.S. (PBTR) a National Long-term Rating of 'A(tur)'. The Outlook is Stable.

KEY RATING DRIVERS
The rating is driven by potential support from PBTR's parent, Azerbaijan's Pasha Bank OJSC (PB, BB-/Stable), which owns 80% of PBTR's shares. PB's ratings, in turn, are underpinned by potential support from Azerbaijan authorities given, among others, the bank's systemic importance as a member of the second-largest banking group in Azerbaijan (see "Fitch Upgrades Azerbaijan's Kapital Bank and Pasha Bank; Affirms AccessBank" dated 21 September 2015 at www.fitchratings.com)

Fitch's view on probability of support for PBTR considers (i) the strategic importance of the subsidiary to its shareholder, (ii) close integration between the two banks, (iii) the sizable equity injection already made into PBTR, and (iv) the two banks' common branding.

RATING SENSITIVITIES
PBTR's National Long-term Rating, including its Outlook, is sensitive to changes in its parent's Long-term IDR and Outlook. PBTR's rating could also be affected should Fitch change its view on PB's commitment to PBTR.