Malopolski Regionalny Fundusz Poreczeniowy – Ratings Affirmed

3 November 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term National Rating (LT NR) and Short-Term National Rating (ST NR) on the Poland National Scale of Malopolski Regionalny Fundusz Poreczeniowy Sp. Z.o.o. (MRFP or the Fund) at ‘plBBB-’ and ‘plA3’, respectively. The Outlook for the Long-Term Rating remains Stable.

MRFP’s ratings reflect adequate capitalisation and no commercial financial debt, and adequate net guarantee leverage and liquidity supported by substantial bank deposits. Public ownership and a broad partner network underpin its franchise as Malopolska’s sole public credit guarantee fund. The external re-guarantee facility provides material, albeit contracting, risk transfer and underwriting capacity, while declines in both the value and share of guarantees at risk indicate improving portfolio-wide asset quality. Weak core earnings offset these strengths, as sharply lower fees leave net…