...Support Drives IDRs: Raiffeisenbank (Bulgaria) EAD's (Raiffeisenbank) Issuer Default Ratings (IDRs) and Support Rating reflect Fitch Ratings' view of a high probability that the bank would be supported, if required, by its 100% owner, Raiffeisen Bank International (RBI). The Stable Outlook on the bank's Long-Term IDR reflects our view that risks related to RBI's credit profile are broadly balanced. Strategically Important Subsidiary: Raiffeisenbank is based in a strategically important region for RBI. The bank's synergies with its parent are strong and underpinned by long record of supporting RBI's objectives and a high level of management and operational integration. The full ownership underpins the owners' support propensity. We believe that any required support is likely to be immaterial relative to RBI's ability to provide it. Moderately Strong Standalone Profile: The challenging domestic operating environment weighs on Raiffeisenbank's Viability Rating (VR), despite its largely robust...
