Fitch affirms mBank's Long-Term Issuer Default Rating at \BBB-\", revises the outlook from negative to stable and places senior debt ratings on Rating Watch Negative"
Contents:
"3. INFORMATION ABOUT THE ENTITY
4. SIGNATURE OF PERSONS REPRESENTING THE COMPANY
| POLISH FINANCIAL SUPERVISION AUTHORITY | ||||||||||||
| REPORT No | 54 | / | 2023 | |||||||||
| Date of issue: | 2023-07-13 | |||||||||||
| Short name of the issuer | ||||||||||||
| mBank S.A. | ||||||||||||
| Subject | ||||||||||||
| Fitch affirms mBank's Long-Term Issuer Default Rating at "BBB-", revises the outlook from negative to stable and places senior debt ratings on Rating Watch Negative | ||||||||||||
| Official market - legal basis | ||||||||||||
| Art. 17 ust. 1 MAR - informacje poufne. | ||||||||||||
| Contents of the report: | ||||||||||||
| Fitch affirms mBank's Long-Term Issuer Default Rating at "BBB-", revises the outlook from negative to stable and places senior debt ratings on Rating Watch Negative The Management Board of mBank S.A. (“Bank”) informs that on 13 July 2023, Fitch Ratings (“Fitch”) affirmed the Bank’s Long term Issuer Default Rating at “BBB-”, Viability Rating at “bbb-” and revised the outlook of the long term rating from negative to stable. At the same time Fitch placed the Bank's Long-term Senior Preferred debt rating of “BBB” and Senior Non-Preferred debt rating of “BBB-” on Rating Watch Negative (RWN). The revision of the rating outlook reflects Fitch’s view that the Bank's improved core profitability meaningfully strengthens its ability to absorb further costs of legal risk related to foreign currency mortgage loan portfolio and reduces the pressure on the Bank's capitalisation. The placement of the Bank's Senior Preferred and Senior Non-Preferred debt ratings on RWN, according to Fitch reflects uncertainty, whether the Bank will build a sustainable junior debt buffer (Senior Non-Preferred debt and more junior debt) necessary to keep the current debt ratings in accordance with Fitch’s rating criteria. This is driven by the change in the structure of the minimum resolution requirements for the Bank. | ||||||||||||
INFORMATION ABOUT THE ENTITY >|>|>|
| SIGNATURE OF PERSONS REPRESENTING THE COMPANY | |||||
| Date | Name | Position / Function | Signature | ||
| 2023-07-13 | Maciej Mołdawa | Wicedyrektor Departamentu Compliance | |||
search results