On June 8, 2026, the international agency Fitch Ratings revised the outlook on the long-term ratings of seven state-owned banks in Uzbekistan, including Microcreditbank, from “stable” to “positive.” The credit rating itself was affirmed at “BB.”
What happened
The change in assessments was reported by Spot.uz. The outlook revision was a direct consequence of the improvement in Uzbekistan’s sovereign outlook, which Fitch announced on June 3, 2026. In the agency’s methodology, this means the bank’s assessment relies on the probability of state support.
Microcreditbank’s rating trajectory clearly shows its dependence on the state. In July 2025, Fitch upgraded the bank’s rating from “BB-” to “BB,” but simultaneously downgraded its Viability Rating to a weak “ccc+”. This indicator reflects the internal quality of assets without taking external state injections into account.