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Fitch puts mBank on watch
Fitch Ratings said it placed mBank SA’s BBB- issuer default ratings on rating watch negative.
The RWN reflects Fitch's view that legal risks related to legacy exposures to foreign-currency mortgages have increased since it last reviewed the bank’s ratings. The final financial impact is still uncertain, but some of the risks that may materialize over the next few months could lead to sizeable losses on its foreign-currency mortgage portfolios, the agency said.
For mBank, the effect of these losses on capital positions could be significant enough to warrant negative rating action in the near term, Fitch said.
The agency said it plans to resolve the RWN once it has more clarity about the size of potential losses.
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