19th Dec 2005 16:32
Bank Pekao SA19 December 2005 UNOFFICIAL TRANSLATION (19 December 2005) Current report 30/2005 Bank's ratings raised by Standard & Poor's Management Board of Bank Polska Kasa Opieki S.A. received from rating agencyStandard & Poor's Ratings Services information that on 19th December, 2005 ithas upgraded the long-term foreign currency rating to level "A-" from "BBB+". Other ratings of the Bank remained unchanged: Long-term local currency counterparty rating: "A-" The short-term rating at "A-2" The ratings of the Bank have Stable Outlook. The upgrade of the rating was justified by growth of Bank Polska Kasa OpiekiS.A.'s role in the Group of the Strategic Investor, UniCredito Italiano S.p.A.Standard & Poor's expressed also opinion that Bank Pekao will maintain goodprofitability and asset quality despite higher competition and tighter interestmargins in the context of rapid loan growth. The gradation scale of ratings applied by Standard & Poor's Ratings Services Long-term ratings Ratings of capability to pay long-term liabilities of the Bank. The gradationscale for investment level: AAA, AA, A, BBB, and for speculative level: BB, B,CCC, CC, C, DDD, DD, D. The highest rating "AAA", the lowest rating "D". Short-term ratings Ratings of capability to pay short-term liabilities of the Bank. The gradationscale: A-1, A-2, A-3, B, C (A-1 is the highest and C is the lowest rating). Gradation scale of Outlook from Positive via Stable to Negative. Positiveoutlook means that there is possibility to upgrade the ratings in the future,Stable outlook means that the ratings will remain unchanged, and Negativeoutlook - that there is a possibility to downgrade the ratings. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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