...Joint Stock Company ProCredit Bank's (PCBU) Long-Term Foreign Currency (LTFC) Issuer Default Rating (IDR) is driven by potential support from its 100% shareholder ProCredit Holding AG (PCH; BBB/Stable/bb) and underpinned by its `ccc' Viability Rating (VR). The LTFC IDR reflects Fitch Ratings' view that a default on senior FC third-party non-government obligations remains a real possibility due to the Russia¡Ukraine war. PCBU's Shareholder Support Rating (SSR) of `ccc' reflects our view of its strategic importance to PCH, but also potential constraints on the bank's ability to use parent support, in particular to service FC obligations, due to government intervention risk. PCBU's VR reflects the high risks to its standalone profile caused by the war, and that failure remains a real possibility. PCBU's `CCC+' LT Local Currency (LC) IDR reflects limited regulatory restrictions on LC operations. Challenging Operating Environment: Operating conditions for Ukrainian banks remain challenging,...
