EFG International said that it has achieved an inaugural rating from the international ratings agency, Fitch Ratings. The Zurich-based p...

EFG International said that it has achieved an inaugural rating from the international ratings agency, Fitch Ratings.

The Zurich-based private bank received an Issue Default Rating of ‘A’ with positive outlook. At the same time, Fitch Ratings upgraded EFG Bank’s Issuer Default Rating to ‘A’ with positive outlook (from previously ‘A-‘ with positive outlook).

EFG Bank is EFG International’s Swiss private banking subsidiary.

The ratings are expected to help with the bank’s overall ambitious expansion plans, say analysts.