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On 31st March, 2021 Fitch Ratings has revised the Outlook on JSC Liberty Bank to ‘Stable’ from ‘Negative’, while affirming its Long-Term Issuer Default Rating (IDR) at 'B+'.
The revision of the Outlook to Stable reflects reduced pressure on the bank's credit profile from the health crisis and contraction of the Georgian economy.
Fitch Ratings expect that the bank's pre-impairment profits will be sufficient to absorb additional credit losses from the pandemic without jeopardizing its financial profile. The bank entered the crisis with healthy capital cushion and good performance metrics. The Long-Term Issuer Default is driven by the bank's intrinsic strength.
