PKO Bank Polski – Ratings Affirmed with a Stable Outlook

PKO Bank Polski – 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 PKO Bank Polski (PKO) at ‘A-’ and ‘A2’, respectively. The Outlook for the LT FCR remains Stable. At the same time, CI Ratings has affirmed PKO’s Bank Standalone Rating (BSR) of ‘a-’ with a Stable Outlook, and Core Financial Strength (CFS) of ‘a-’.

The Bank’s BSR is derived from a very strong CFS of ‘a-’ and a revised Operating Environment Risk Anchor (OPERA) of ‘bbb’ (previously ‘bbb+’). The lowering of OPERA reflects the challenges Polish banks have faced in recent years, which culminated in the introduction of various borrower support programmes aimed to assist mortgage loan borrowers in coping with rising interest rates and the higher cost of living. The costs…