K&H Bank’s Ratings Affirmed ; O utlook Revised to Negative
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Summary
Ref: HU00421 CRA00- 0 1 28 September 202 2
K&H Bank’s Ratings Affirmed ; O utlook Revised to Negative
Capital Intelligence Ratings (CI Ratings or CI ) today announced that it has revised the Outlook on the Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) of Kereskedelmi es Hitelbank (K&H) to Negative from Stable. At the same time, CI Ratings has affirmed the Bank’s LT FCR and Short-Term Foreign Currency Rating (ST FCR) at ‘BBB’ and ‘A2’, respectively. K&H’s BSR of ‘bbb-’ , Core Financial Strength (CFS) rating of ‘bbb -’ , and Extraordinary Support Level (ESL) of Moderate have also been affirmed .
The revision of the Outlook to Negative follows a downward adjustment of CI’s internal assessment of sovereign credit risk for Hungary and reflects the worsened operating environment due to the war in Ukraine and its adverse impact on the local economy….