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16 Oct 2018 07:00
15/10/2018 - Report 23/2018: Confirmation of the Issuer Credit Rating (ICR), maintenance of its stable outlook and upgrade of the long-term Bank's Resolution Counterparty Rating (RCR) by S&P Global Ratings.
Bank Polska Kasa Opieki Spółka Akcyjna ("Bank") informs that on October 15, 2018, the rating agency S&P Global Ratings ("S&P") informed the Bank about the review of the Bank's ratings.
Bank's ratings were reviewed following the upgrade of the long-term rating on Poland from "BBB+" to "A-" on October 12, 2018.
As a result of the review, S&P confirmed the Issuer Credit Rating ("ICR") and its stable outlook, upgraded the long-term and confirmed the short-term Resolution Counterparty Rating ("RCR") of the Bank
The Issuer Credit Rating for the Bank ("ICR") has been maintained at the following levels:
(i) Long-term rating: "BBB+"
(ii) Short-term rating: "A-2"
(iii) Outlook: "Stable"
(iv) Stand-alone: "bbb".
Stable outlook on the Bank's ratings reflects the stable outlook on ratings of PZU S.A., the largest shareholder of Bank and the largest insurer in Poland.
An RCR is a forward-looking opinion of the relative default risk of certain senior liabilities that may be protected from default with an effective bail-in resolution process.
The long-term RCR for the Bank has been upgraded from "BBB+" to "A-".
The short-term RCR for the Bank has been maintained at "A-2".
Legal basis: Article 17 (1) of MAR - inside information
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