Fitch Ratings has affirmed Armenian-based Ameriabank CJSC's (Ameria) Long-Term Issuer Default Rating (IDR) at 'B+' with a Stable Outlook.

At the same time Fitch has withdrawn the bank’s ratings for commercial reasons. Fitch will no longer provide rating and analytical coverage of Ameria.

KEY RATING DRIVERS

The affirmation of Ameria's ratings reflects limited changes in the bank's credit profile since our review on 25 April 2017. The bank's performance, capital and liquidity buffers remain reasonable, supported by a recovering domestic economy and currency stability, although high balance-sheet concentrations and loan dollarisation pose risks.

RATING SENSITIVITIES

Not applicable.

Fitch has affirmed and withdrawn the following ratings:

Long-Term Foreign and Local Currency IDRs: 'B+', Outlooks Stable
Short-Term Foreign and Local Currency IDR: 'B'
Viability Rating: 'b+'
Support Rating: '5'
Support Rating Floor: 'No Floor'
Senior unsecured debt: 'B+'; Recovery Rating 'RR4'