24 Oct 2017 07:00
UNOFFICIAL TRANSLATION
19.10.2017 - Report 55/2017: Fitch Ratings affirmed the Long-Term IDRs at (A-) and the Viability Rating (VR) at 'a-' of the Bank. Outlook Revised to Negative from Stable.
The Management Board of Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs that on 19 October, 2017 Fitch Ratings ("Fitch") informed the Bank of confirming the Long-Term rating of IDR at "A-" and Viability Rating (VR) at "a-".
The affirmation of the IDR and VR ratings of Pekao reflect financial stability, well-established domestic market franchise, stable business model, conservative risk appetite, strong capitalisation, sound asset quality, solid profitability and robust funding and liquidity.
At the same time, Fitch has changed the Outlook from Stable to Negative and Support Rating to "5".
The Outlook Revision for Pekao reflects Fitch's expectation that the bank's capital ratios are likely to gradually moderate. Capitalisation is, in Fitch's view, Pekao's key rating strength relative to some of its direct peers. The change of Support rating reflects the change in ownership of the Bank.
After this decision Bank's ratings are as follows:
Long-term IDR: "A-";
Outlook: "Negative";
Short-term IDR: "F2";
Viability Rating: "a-";
Support Rating: "5"
Legal basis: Article 17 (1) of MAR - confidential information