PKO Bank Polski’s Ratings Affirmed with a Stable Outlook

PKO Bank Polski’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 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) rating of ‘a-’.

The Bank’s BSR is derived from a very strong CFS of ‘a-’ and a still sound Operating Environment Risk Anchor (OPERA) of ‘bbb+’, which indicates that operating conditions remain characterised by modest risk despite the coronavirus (Covid-19) pandemic. The LT FCR is set at the BSR level as the Extraordinary Support Level (ESL) is Uncertain, reflecting our assessment of the bank recovery and resolution scheme, which was…