18 Jun 2019 07:00
UNOFFICIAL TRLANSLATION
17.06.2019 - Report 17/2019: Revision of outlook to positive, upgrade of stand-alone credit profile to "bbb+" and affirmation of long-term and short-term ratings of Bank Pekao S.A. by S&P Global Ratings
Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs that on 17 June 2019 rating agency S&P Global Ratings ("S&P") informed Bank that it has revised the outlook for the Bank's ratings up from "Stable" to "Positive", upgraded the stand-alone credit profile rating from "bbb" to "bbb+" and affirmed the long-term and short-term ratings of the Bank at the current level.
After this decision Bank's ratings are as follows:
Long-term rating: "BBB+"
Short-term rating: "A-2"
Stand-alone credit profile: "bbb+"
Outlook: "Positive"
The decision to upgrade the Bank's stand-alone credit profile is based on the S&P opinion that the Bank's capitalization has strengthened in the environment of lower economic risk in Poland.
The positive outlook of the Bank's ratings is a reflection of the same outlook for PZU S.A., the Bank's main shareholder.
Legal basis: Article 17 (1) of MAR - inside information