Rating of senior preferred debt of mBank upgraded by Fitch
Rating of senior preferred debt of mBank upgraded by Fitch
| Current Report | | |
| Drafted on: | 21.09.2021 |
| Current report No | 45/2021 |
| Legal basis: | |
| Article 56 sec. 1 item 2) of the Act on public offering, conditions governing the introduction of financial instruments to organized trading, and public companies &ndash| current and periodic information |
| Contents: | |
| The Management Board of mBank S.A. (&ldquo|Bank"|) informs that on 21 September 2021 Fitch Ratings upgraded mBank&rsquo|s rating of outstanding senior preferred debt to BBB, i.e. one notch above the Bank&rsquo|s Long-Term Issuer Default Rating (BBB-), and removed the rating from Rating Watch Positive. | The upgrade of rating is driven by the completion of Bank&rsquo|s first issuance of senior non-preferred debt and reflects Fitch&rsquo|s opinion regarding protection that could accrue to senior preferred debt holders from the Bank's junior resolution debt buffers. In Fitch&rsquo|s view, the senior preferred debt will have meaningfully lower default risk relative to mBank&rsquo|s failure risk.| | |
SIGNATURE OF THE PERSONS REPRESENTING THE COMPANY
| Vice-director for investment supervision, Compliance Department | Maciej Mołdawa 21.09.2021 |
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