RATING SENSITIVITIES
Factors that could, individually or collectively, lead to negative rating action/downgrade:
IDRS
The rating may be downgraded in the event of aggressive growth in non-gold lending segments without a corresponding strengthening in risk controls and balance-sheet buffers, higher leverage sustained above 4.5x, or higher-than-expected operational risk losses that materially weakened profitability.
Factors that could, individually or collectively, lead to positive rating action/upgrade:
IDRS
Fitch believes that the ratings have limited upside potential in the near term. In the longer term, evidence of sustained robust regulatory compliance, a strengthened franchise in gold and non-gold lending segments along with a record of maintaining healthy asset quality and profitability metrics may be positive for the ratings.
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