By John Lee.
Fitch Ratings has affirmed Iraq's Sumer Commercial Bank PSC's (SCB) Long- and Short-Term Issuer Default Ratings (IDRs) at 'RD' (Restricted Default) and Viability Rating (VR) at 'f'.
Fitch has also withdrawn the bank's ratings.
It says that, before the rating withdrawal, SCB's IDRs reflected the Central Bank of Iraq's (CBI) intervention, which impeded the bank's ability to service its contractual obligations in US dollars
(Source: Fitch Ratings)
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