OREANDA-NEWS. December 08, 2015. Fitch Ratings has affirmed Kapital Bank's (KB) Long-term foreign currency IDRat 'BB-' with Stable Outlook and subsequently withdrawn the ratings.

Fitch has withdrawn KB's ratings as the issuer has chosen to stop participating in the rating process, and Fitch will therefore no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for KB.

KEY RATING DRIVERS
On 21 September 2015 Fitch upgraded KB's Long-term IDR to 'BB-' from 'B+' and Viability Rating (VR) to 'b+' from 'b'. The upgrade of the IDR was driven by the upgrade of the bank's Support Rating and upward revisions of its Support Rating Floor, and reflected Fitch's reassessment of the likelihood of potential support available to the bank from the Azerbaijan authorities, in case of need.

The upgrade of KB's VR reflected the bank's extended track record of reasonable asset quality and profitability, as well as the benefits from the bank's strong capital position and only limited exposure to foreign currency risks given modest balance sheet dollarisation.

For more details on KB see 'Fitch Upgrades Azerbaijan's Kapital Bank and Pasha Bank; Affirms AccessBank' on www.fitchratings.com.

RATING SENSITIVITIES
Not applicable

The following ratings have been affirmed and withdrawn:

Long-term foreign currency IDR: 'BB-'; Outlook Stable
Short-term foreign currency IDR: 'B'
Viability Rating: 'b+'
Support Rating: '3'
Support Rating Floor: 'BB-'