On August 19th, 2016, the International Credit Rating Agency “Fitch” reduced the credit rating of Macedonia to “BB” which is due to the political crisis in Macedonia.


Accordingly, the ProCredit Bank’s rating was aligned due to the changes in the rating of Macedonia only. No institution is able to have higher rating from the rating in the state it is operating in. The assessment does not affect the bank’s operation and ProCredit will continue to operate reliably and securely. ProCredit Bank Macedonia has a rating since November, 2015, when Macedonia, as a state, received its own rating.   


ProCredit Bank is the only bank in Macedonia which has an international credit rating from the Fitch Agency and continues to have the highest rating of a bank in Macedonia. Rating is a result of credit portfolio quality, timely provision of required capital and high liquidity.

ProCredit Bank is 100% German bank, part of ProCredit Holding with headquarters in Frankfurt, Germany, with credit rating of BBB with stable outlook.


Macedonia has received its first credit rating of BB in 2005 by the Fitch Agency, based on the low inflation rate and the moderate public debt.  In 2006, that rating was promoted to BB+ due to the positive relations with EU and a potential membership in the union. For 10 years, Fitch Agency confirmed that rating for Macedonia, until now, when due to the prolonged political crisis and the reduced economic growth the BB credit rating declines. 



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What is credit rating? Credit rating represents an assessment for the creditability of an institution and its abilities to timely respond to the responsibilities towards the creditors.  The process of determining a credit rating includes evaluation of large number of financial and economic indicators. Only specialized credit rating agencies can confirm the credit rating of an institution or a state.


What is Fitch Rating, London? Fitch Agency is a world leader in this area and is specialized in conducting detailed researches and awarding a credit rating to financial institutions worldwide. Business corporations, banks and financial institution that would like to receive a credit rating should express their own initiative and to contact the rating agency which will send experts to confirm the same.  Once the credit rating of the institution is determined, the same shall be revised at least once a year.


What is the meaning of rated institution? Credit rating allows the investors to get a picture of a country or an institution, which based on the assessment, shall adopt a business cooperation decision with the same.  Rating agencies classify the credit risk pursuant to predetermined groups with different levels of risk.


What does the classifications and assessment mean? The best credit group is A - low risk level, than B - moderate credit risk and C and D groups – high risk level.  There are differences in the level of credit risk within the separate groups as well, by awarding additional letters or marks such as “+” and “-” for the expected outlooks in future.  Based on this, highest credit rating in B credit group would be BBB, and lowest B.


In cases of revising a credit risk of a country, the rating of the economic institutions is consequently aligned with the one of the country.  Economic entities must not have higher rating with the country’s rating due to the existing risk in that area.