Moody's: Changes to Poland banks

Moody's Investor Service said that as part of the planned application of its joint default analysis methodology and its updated bank financial strength rating methodology, some ratings changed for banks in Poland.

The new methodology identifies four potential sources of external support for banks including parental support, support from a cooperative or mutualist group, support from a regional or local government and systemic support.

Given the large number of issuers potentially affected, the agency said the methodologies are being implemented country by country. For those banks with a parent bank located in another country where the methodologies have not yet been implemented, Moody's has only concluded on the bank subsidiary's own bank financial strength rating. Because these banks may potentially benefit from support from the parent bank, among other potential sources of support, there may be changes to the deposit and debt ratings, the agency said.

The banks whose ratings have been changed include Powszechna Kasa Oszczednosci Bank Polski SA, Kredyt Bank SA, Bank Millennium SA, BRE Bank SA, ING Bank Slaski, Bank Handlowy w Warszawie SA and Bank Gospodarki Zywnosciowej SA.

The banks whose ratings are on review include Bank BPH SA and BPH Finance plc. The banks whose deposit ratings are pending methodology implementation for its parent include Lukas Bank SA, Kredyt Bank SA, BRE Bank SA, BRE Finance France SA, BRE Bank Hipoteczny, Bank Zachodni WBK SA, Bank Polska Kasa Opieki SA, Bank Millennium SA, Bank Handlowy w Warszawie SA and Bank Gospodarki Zywnosciowej SA.

The banks whose ratings have been affirmed include Getin bank SA, Getin Finance plc, BRE Finance France SA, Bre Bank Hipoteczny, Bank Zachodni WBK SA and Bank Polska Kasa Opieki SA.

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