...Support-Driven IDRs: The IDRs and Support Ratings of ProCredit Bank (Kosovo) (PCBK) reflect the likelihood of support from its parent, ProCredit Holding AG & Co. KGaA (PCH; BBB/Stable). The support considerations include 100% ownership, the strategic importance of south-eastern Europe to PCH, strong integration with the parent and a record of capital and liquidity support. Challenging Operating Environment: The extent to which support can be factored into PCBK's ratings is constrained by Fitch's assessment of country risks in Kosovo. The bank's Viability Rating (VR) also reflects high risks from the operating environment, making its performance vulnerable to potential domestic market shocks. PCBK is the largest bank in Kosovo. PCH Group Benefits: PCBK's good credit metrics, robust corporate governance and fairly conservative risk management result from its participation in the PCH group. Resilient Performance: Fitch expects operating profitability to remain solid in 2015, supported by significantly...
