... Issuer Default Ratings (IDRs) are based on potential support from its 100% owner, Raiffeisen Bank International (RBI). We believe that there is a high probability that Raiffeisenbank would be supported, if required, by RBI. The Negative Outlook on Raiffeisenbank's Long-Term IDR reflects Fitch Ratings' view of the risks to RBI's credit profile. Strengthened Standalone Profile: Raiffeisenbank's Viability Rating (VR) is supported by its moderate risk appetite, substantial capital buffer, solid deposit-based funding and ample liquidity. The bank's standalone profile also reflects its significantly better asset quality than peers, improving profitability and a gradual reduction in legacy impaired loans, which is likely to continue. The bank's VR is at the level of Fitch's assessment of the Bulgarian operating environment. Challenging Operating Environment: The operating environment is likely to remain difficult due to subdued credit demand,...
