Moody's cuts Bank Pekao view to stable

Moody's Investors Service said it changed the outlook on Bank Polska Kasa Opieki's (Bank Pekao) C bank financial strength rating to stable from positive, and affirmed its local-currency deposit ratings at Aa3, foreign-currency deposit rating at A2 and short-term deposit rating at prime-1.

The change was driven by concerns that recent trends in the operating environment will make it more difficult for the bank to materially strengthen its financial fundamentals, Moody's said.

But, the agency said it does not expect notable weakening in the franchise value and financial performance of the bank in the near future.

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