Fitch Ratings Upgrades Republic Bank Limited to 'BBB'.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has upgraded the long-term Issuer Default Rating (IDR IDR In currencies, this is the abbreviation for the Indonesian Rupiah. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) of Republic Bank Limited to 'BBB' from 'BBB-' and upgraded the Support rating to '2' from '3'. The short-term issuer rating of 'F3' and the Individual rating of 'C' are affirmed. The Rating Outlook is Stable. The upgrade of the Support rating reflects the greater capacity of government support in the event of need, given strengthening government finances and an improving economic environment. The upgrade of the long-term IDR stems from the enhanced capacity of support combined with Republic's sound overall financial condition and its important position within the banking system of Trinidad and Tobago Trinidad and Tobago (trĭn`ĭdăd, təbā`gō), officially Republic of Trinidad and Tobago, republic (2005 est. pop. 1,088,000), 1,980 sq mi (5,129 sq km), West Indies. The capital is Port of Spain. . Fitch has upgraded the following ratings: Republic Bank Limited --Long-term Issuer Default Rating (IDR) to 'BBB' from 'BBB-'; --Support rating to '2' from '3'. Fitch has also affirmed the following ratings: Republic Bank Limited --Short-term issuer rating of 'F3'; --Individual rating of 'C'. The Rating Outlook is Stable. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. |
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