Fitch Ratings has affirmed the support rating of Hungary's OTP Bank at "3" and maintained the stable outlook, the rating agency said in a statement. The rating affirmation reflects Fitch's view that the Hungarian government would likely support the lender if needed, in the light of its systemic importance in the banking sector, although that the bank is not expected to require such support in the short to medium term given its sound and stable credit profile, Fitch said. OTP was the largest bank in Hungary , accounting for 26% of sector assets and 27% of retail deposits as end of September 2013 . Fitch said that a multiple notch upgrade of the Hungarian sovereign rating will trigger an upward revision of OTP Bank's rating and, likewise, the bank's rating could be revised down following a downgrade on Hungary . However, Fitch currently views this as unlikely. Additionally, the ratings agency said that it affirmed the Long-Term Issuer Default Ratings of OTP Bank's Russian subsidiary OJSC OTP Bank at "BB" but downgraded its viability Rating to 'b+' from 'bb'.
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