Fitch downgrades Nadra to 'CC', withdraws ratings

Fitch Ratings yesterday said that it downgraded Nadra Bank’s long-term issuer default rating (IDR) to ‘CC’ from ‘CCC’, maintaining the negative outlook on the rating. The downgrade reflects a further recent deterioration in the bank’s liquidity position and increased concerns about asset quality and capital. Fitch withdrew all of the bank’s ratings due to insufficient information; Fitch said it will no longer provide ratings or analytical coverage on this issuer.