Bank Pekao ’s Ratings Affirmed with a Stable Outlook
Content is restricted
Summary
Ref: PL 006 20 CRA00- 0 1 27 April 20 2 1
Bank Pekao ’s Ratings Affirmed with a Stable Outlook
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of Bank Pekao at ‘A-’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed the Bank Standalone Rating (BSR) of ‘bbb+’, Core Financial Strength (CFS) rating of ‘bbb+’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR is Stable.
The affirmation of the ratings and outlook reflects the Bank’s strong franchise as the second largest bank in Poland, low exposure to CHF mortgage loans coupled with one of the highest FX r i sk provisions at end-2020, and the sound capital base with limited downside risk compared to peers coupled with some of the best funding and liquidity…