Fitch Ratings upgraded the long-term issuer default rating (IDR) of Banca Transilvania (BVB: TLV) from BBB- to BBB, placing the lender one notch above Romania’s sovereign rating. Banca Transilvania, listed on the Bucharest Stock Exchange, is the largest bank in Romania by assets. “Fitch Ratings considers Banca Transilvania to be more resilient than the environment in which it operates due to its strong financial performance, very good capitalisation, access to international markets and financing strategy through MREL eligible bonds,” the bank said in a statement.