OREANDA-NEWS. Fitch Ratings has today affirmed ProCreditBank (Georgia)'s ("ProCredit Georgia") ratings at foreign currency Issuer Default ("IDR") 'B', Short-term foreign currency 'B', local currency IDR 'B+', Short-term local currency 'B', Individual 'D/E' and Support '4'. The Outlooks on the bank's IDRs remain Stable.

The IDR, Short-term and Support ratings of ProCredit Georgia are driven by the likelihood of support from its majority shareholder, ProCredit Holding AG ("PCH", rated 'BBB-' (BBB minus)), although the extent to which this support can be factored into the ratings is limited by Georgia's country risk.

An upgrade of the Individual rating could follow a significant increase of the bank's size without asset quality compromises, which would result in improved internal capital generation, as well as increased funding diversification. Downside risk is limited.