OREANDA-NEWS. Fitch Ratings has withdrawn Azerbaijani Bank Technique OJSC's (BT) ratings. A full list of rating actions is below.

Fitch is withdrawing the ratings as BT has chosen to stop participating in the rating process. Therefore, Fitch will no longer have sufficient information to maintain the ratings. Accordingly, Fitch will no longer provide ratings or analytical coverage for BT.

KEY RATING DRIVERS
BT's 'B-' Issuer Default Rating is driven by its weak capitalisation and asset quality. On 10 March 2015 Fitch placed BT's ratings on Rating Watch Negative (RWN), reflecting the bank's breach of regulatory capital adequacy ratios as a result of the Azerbaijani manat devaluation (for details see 'Fitch Affirms 4 Azerbaijani Private Banks, Puts Technique & AGBank on RWN' on www.fitchratings.com).

BT breached minimum prudential capital ratios at end-1Q15. However, Fitch does not have information on the bank's potential recapitalisation plans, and so has withdrawn the ratings without affirmation or downgrade.

RATING SENSITIVITIES
Not applicable

The following ratings have been withdrawn without affirmation:
Long-term foreign currency IDR: 'B-'/RWN
Short-term IDR: 'B'/RWN
Viability Rating: 'b-'/RWN
Support Rating: '5'
Support Rating Floor: 'No Floor'