...Support-Driven IDRs: ProCredit Bank d.d. Sarajevo's (PCBBiH) Issuer Default Ratings (IDRs) and Support Rating reflect Fitch's view of potential support from its shareholder, ProCredit Holding AG & Co. KGaA (PCH; BBB/Stable). PCBBiH is strategically important to the group and remains an important part of its well-established presence in south eastern Europe. County Ceiling Constraint: The extent to which potential support can be factored into the bank's ratings is constrained by Fitch's assessment of risks related to Bosnia and Herzegovina (BiH) - in particular, transfer and convertibility risks. Without country risk constraints, PCBBiH's Long-Term IDRs would be notched down once from PCH's Long-Term IDR. Company Profile Constrains VR: PCBBiH's VR considers the bank's limited franchise and small scale, which in turn act as a constraint on its performance and internal capital generation. The standalone assessment also balances the risks stemming from operations in BiH, the expertise in the...
