...Support Drives Ratings: The Issuer Default Ratings (IDRs) and Support Rating of ProCredit Bank d.d. Sarajevo (PCB Bosnia) are underpinned by the likelihood of support from its parent, ProCredit Holding AG & Co. KGaA (PCH, BBB/Stable). In assessing support, Fitch Ratings views positively the strategic importance of south-eastern Europe to PCH, the potential negative implications of a subsidiary default for the group, the strong integration of the bank within the group and a record of capital and liquidity support. Country Risk Constrains IDR: PCB Bosnia's IDRs are constrained by our assessment of country risks in Bosnia and Herzegovina, absent of which a one-notch differential between the ratings of the bank and PCH would likely be maintained. The Outlook reflects our assessment of the risks on the sovereign credit profile. Operating Environment Affects VR: PCB Bosnia's Viability Rating (VR) reflects the risks from the bank's operating environment, which make its performance vulnerable to...
