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Maintaining the ratings and stable outlook by S&P

25th Jun 2021 07:00

RNS Number : 0779D
Bank Pekao S.A.
24 June 2021
 

UNOFFICIAL 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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