Fitch upgrades Nova Kreditna banka Maribor

Fitch Ratings said it upgraded Nova Kreditna banka Maribor's individual rating to C from C/D and affirmed the bank's A- issuer default, B2 short-term and 1 support ratings.

The outlook is stable.

The agency said the upgrade of the individual rating reflects the operational improvements made at Nova Kreditna banka Maribor in the last two years, underpinned by the bank's sound profitability following a number of years of restructuring and decent asset quality.

The bank's issuer default, short-term and support ratings reflect the extremely high likelihood of support being received from the Slovenian government in case of need, Fitch said, reflecting Nova Kreditna banka Maribor's strong market shares and its 100% state ownership.

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