1 Apr 2016 16:55
UNOFFICIAL TRANSLATION
Report 4/2016: Bank's rating affirmed by Fitch Ratings at A-
Management Board of Bank Polska Kasa Opieki S.A. ("Bank") informs that on 1st of April 2016 rating agency Fitch Ratings ("Fitch") affirmed Bank's financial credibility ratings at unchanged levels.
In the result of this decision Bank's ratings are as follows:
Long-term IDR: 'A-';
Outlook: Stable;
Short-term IDR: 'F2';
Viability Rating: 'a-';
Support Rating: '2'.
In justification it was stated that Bank's Long-term rating is based on its intrinsic strength, reflected in its Viability Rating of level 'a-'.
Viability Rating reflects Bank's strong credit profile, based mainly on strong capitalization, solid franchise, financial results relatively resistant to external factors enabling internal capital generation, sound asset quality, high level of liquidity and stable funding base and low exposure to risks related to foreign currency mortgage loans.
The rating actions regarding Bank's ratings follow the revision of the Outlook for UniCredit S.p.A., Bank's majority shareholder, accomplished on 26 March 2016.
Legal basis: section 5 subsection 1 clause 26 Finance Minister's Ordinance of 19 February 2009 re. Current and periodic reports published by the issuers of securities and the rules of equal treatment of the information required by the laws of non-member states