mBank – Ratings Outlook Revised to Negative
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Summary
Ref: PL008 2 1 CRA00- 0 1 21 April 2022
mBank – Ratings Outlook Revised to Negative
Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the Outlook on mBank’s L ong-Term Foreign Currency Rating (L T FCR ) and Bank Standalone Rating (BSR) to Negative from Stable. At the same time, CI Ratings has affirmed the Bank’s LT FCR and BSR of ‘BBB+’ and ‘bbb+’, respectively. mBank’s S hort-Term Foreign Currency Rating (ST FCR) of ‘A2’, Core Financial Strength ( CFS ) rating of ‘bbb’, and Extraordinary Support Level (ESL) of Uncertain have also been affirmed.
The revision of the LT FCR and BSR Outlook to Negative reflects the ongoing uncertainty about the ultimate costs associated with the Bank’s still sizable CHF mortgage loan portfolio and the likely need for further substantial legal cost provisions . This risk factor may in turn adversely impact mBank’s …