BPKD.L Regulatory News (BPKD)

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