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Moody's cuts Bank Gospodarki
Moody's Investors Service said it downgraded the long-term ratings of Bank Gospodarki Zywnosciowej SA to Baa2 from Baa1 and assigned a stable outlook.
The short-term rating was confirmed at Prime-2.
The D standalone bank financial strength rating was not affected and the outlook remains stable.
Moody's said the downgrade follows a June 15 action on the bank's Dutch parent, Rabobank Nederland, whose ratings were downgraded to Aa2/Prime-1 from Aaa/Prime-1 and its bank financial strength rating was downgraded to B-/A1 from B+/Aa2.
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