Moody's acts on OTP Bank NyRt

Moody's Investors Service said it placed on review several ratings of OTP Bank NyRt and its mortgage bank subsidiary OTP Jelzalogbank Zrt (OTP MB)

These rating actions were driven by revisions to Moody's advanced loss given failure framework, which is applied to banks operating in jurisdictions with operational resolution regimes, following the publication of Moody's updated banks methodology on Friday, the agency said.

Moody’s placed on review for downgrade OTP MB's Baa2 backed issuer rating and OTP Bank's Ba1 subordinated bond rating. The agency also placed on review for upgrade OTP Bank's Ba3(hyb) junior subordinated debt.

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