Fitch rates Volksbank notes A-

Fitch Ratings said it assigned Volksbank NV’s inaugural senior non-preferred issue a final long-term rating of A-. The rating is in line with the bank’s long-term issuer default rating, the agency said.

Fitch also upgraded de Volksbank’s long-term senior preferred debt rating to A from A- and its derivative counterparty rating to A(dcr) from A-(dcr). The upgrades to the senior preferred rating and DCR reflect the protection that could accrue to these liabilities from the bank’s junior bank resolution debt and equity buffers and the bank’s first issue of senior non-preferred debt, Fitch said.

The bank’s other ratings are unaffected, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.