OTP Bank’s Ratings Affirmed with a Stable Outlook
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Summary
Ref: HU00720 CRA00- 0 1 30 September 2021
OTP Bank’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 OTP Bank (OTP) at ‘BBB’ and ‘A2’, respectively. At the same time, CI Ratings has affirmed OTP’s Bank Standalone Rating ( BSR ) of ‘bbb’ . The Outlook on the LT FCR and BSR remains Stable.
The Bank’s LT FCR is set at the same level as the BSR due to the Extraordinary Support Level ( ESL ) of Uncertain. The latter is based on our assessment of the EU Bank Recovery and Resolution Directive (BRRD) , which was transposed into national law in Hungary in 2014 , and the absence of a private strategic shareholder with a significant holding.
OTP’s BSR is derived from a Core Financial Strength ( CFS ) rating of ‘bbb+’…