Bank Millennium – Ratings Lowered; Outlook Revised to Stable

Ref: PL00 2 2 2 CRA00- 0 1 6 April 20 2 3

Bank Millennium – Ratings Lowered ; Outlook Revised to Stable

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has lowered Bank Millennium ’s (BM) Long-Term Foreign Currency Rating ( LT FCR ) and Bank Standalone Rating ( BSR ) to ‘BBB-’ and ‘bbb-’, respectively, from ‘BBB’ and ‘bbb’. The Outlook on the ratings has also been revised to Stable from Negative. At the same time CI Ratings has lowered the Bank’s Short-Term Foreign Currency Rating ( ST FCR ) to ‘A3’, from ‘A2’ , and the Core Financial Strength ( CFS ) rating to ‘bb+’ , from ‘bbb-’. The Extraordinary Support Level ( ESL ) of Uncertain has been affirmed.

The rating action is a result of CI’s Operating Environment Risk Anchor ( OPERA ) adjustment to ‘bbb’ (from ‘bbb+’) and BM’s weaker capital position, as well as expected…