Fitch ups ING Bank Slaski to C

Fitch Ratings said it upgraded ING Bank Slaski's individual rating to C from C/D and short-term foreign-currency rating to F1+ from F1. Other ratings are affirmed at issuer default AA- and support 1.

The outlook is stable.

The upgrade is based on the bank's improving asset quality and continued low risk profile, combined with a strong capital base, Fitch said.

Other risks, including market and operational, remain at low levels, while a significant part of assets is placed in liquid government securities and interbank deposits, the agency said. A downside of the bank's conservative approach is a relatively low share of loans in total assets, Fitch said and as a result the bank's revenue generation is weak.

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