Fitch rates Pekao Bank Hipoteczny

Fitch Ratings said it assigned Pekao Bank Hipoteczny SA a long-term foreign-currency issuer default rating of A-, short-term foreign-currency issuer default rating of F2, national long-term rating of AA(pol) and national short-term rating of F1+(pol).

The outlook is negative.

The ratings are based on the extremely high potential of support it can expect to receive either directly from its parent, Bank Pekao SA or from its ultimate parent, UniCredit SpA, in case of need, Fitch said.

Mortgage loans in the bank's portfolio are originated by the bank itself, the agency said, but risk management procedures have been gradually brought in line with its parent since it became part of the Pekao group.

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