Maintaining the ratings and stable outlook by S&P
Source: RNSUNOFFICIAL TRANSLATION
24.06.2021 - Report 25/2021: Maintaining the ratings and stable outlook of Bank Pekao S.A. by S&P Global Ratings
Bank Polska Kasa Opieki Spółka Akcyjna (the "Bank") informs that on 24 June 2021 rating agency S&P Global Ratings (the "S&P") informed the Bank about maintaining the ratings of the Bank at the current level with the stable outlook.
The ratings for the Bank are as follows:
Long-term rating: "BBB+"
Outlook: "Stable"
Short-term rating: "A-2"
Stand-alone credit profile: "bbb+"
According to S&P, the ratings of the Bank reflects its strong franchise as one of the top 3 universal banks in Poland and its strong capital buffer. The Bank's exposure to legacy CHF loans is not material, according to S&P, and in case of any unlikely adverse scenarios, the Bank could benefit from the support of its state-controlled strategic investor, PZU Group.
The stable outlook reflects that on Pekao's largest investor, PZU.
Legal basis: Article 17 (1) of MAR - inside information
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