London/New York : Fitch Ratings has published updated bank jurisdiction operating environment scores in spreadsheet form to provide additional transparency to users of ratings. Operating environment scores for each jurisdiction form an important input to ratings under both Fitch's Bank Rating Criteria and Non-Bank Financial Institutions Rating Criteria.
Fitch updated the criteria in November 2021 and January 2022, respectively, to derive implied operating environment scores using Fitch Solutions' Operational Risk Index (ORI) as an input instead of the World Bank Ease of Doing Business (EODB) rankings, which have been discontinued.
Under both criteria, the assigned operating environment score for a given jurisdiction acts as a starting point for determining an issuer's operating environment score, which will additionally reflect issuer-specific considerations.
Since the previous spreadsheet publication on 12th November 2021, notable bank operating environment changes include Italy (upgraded to 'bbb/stable' from 'bbb-/stable'), Spain (where the outlook on the operating environment score of 'bbb+' was stabilised from 'negative') and India (where the outlook on the operating environment score of 'bb' was stabilised from 'negative').
A number of Emerging Market Europe jurisdictions saw the outlook on their operating environment stabilize (from negative) during the period including Albania, Georgia and Romania; Bulgaria's operating environment outlook was revised to positive.
In the Middle East, the operating environments for Qatar ('bbb') and United Arab Emirates ('bbb') were also stabilised (from negative).
The operating environment changes reflect broader trends in the rated Financial Institutions portfolio, which has continued to stabilise during 2021 and into 2022.
The full list of assigned bank jurisdiction operating environment scores is detailed in the associated spreadsheet along with updated GDP/capita and ORI data. It is available at www.fitchratings.com or by clicking the link above.
-Ends-
Media Relations: Louisa Williams, London, Email: louisa.williams@thefitchgroup.com
Media Relations: Sandro Scenga, New York, Email: sandro.scenga@thefitchgroup.com
Additional information is available on www.fitchratings.com
About:
ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS . IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEB SITE AT 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 ARE ALSO AVAILABLE FROM THE CODE OF CONDUCT SECTION OF THIS SITE. DIRECTORS AND SHAREHOLDERS RELEVANT INTERESTS ARE AVAILABLE AT HTTPS://WWW.FITCHRATINGS.COM/SITE/REGULATORY. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.
© Press Release 2022
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
