Bank Pekao’s Ratings Affirmed with a Stable Outlook

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 LT FCR is set one notch above the BSR to reflect the moderate likelihood of extraordinary support in the event of need from Bank Pekao’s key shareholder, Powszechny Zaklad Ubezpieczen S.A. (PZU).

Bank Pekao’s BSR is derived from a strong CFS rating of ‘bbb+’ and a still sound Operating Environment Risk Anchor (OPERA) of ‘bbb+’, indicating modest risk. The OPERA also reflects currently high economic…