Fitch Affirms National Development Bank At 'B+'; Outlook Stable

Fitch Ratings has affirmed National Development Bank PLC's (NDB) Long-Term Foreign-Currency and Local-Currency Issuer Default Ratings (IDRs) at 'B+' with a Stable Outlook. 

The agency has also affirmed NDB's Viability Rating (VR) at 'b+'. The expected rating of 'B+(EXP)' assigned to NDB's proposed USD notes issuance, has been withdrawn as the bank no longer expects to proceed with the debt issue as previously envisaged. NDB's National Long-Term Rating has also been affirmed at 'AA-(lka)' with a Stable Outlook. A full list of rating actions is at the end of this commentary.

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