Fitch acts on Polish banks

Fitch Ratings said it acted on seven Polish banking groups reflecting the economic impact of the coronavirus outbreak in Europe.

“The ultimate implications of the pandemic for banks’ credit profiles are unclear, but Fitch considers the risks to be skewed to the downside,” the agency said in a press release.

The actions on banks’ long-term issuer default ratings are as follows:

Long-term IDR affirmed, outlook revised to negative from stable:

Bank Pekao SA (BBB+/negative),

Santander Bank Polska SA (BBB+/negative),

Alior Bank SA (BB/Negative),

Bank Ochrony Srodowiska SA (BB-/negative).

Long-term IDR affirmed, outlook remains stable:

mBank (BBB-/stable), off rating watch positive,

Bank Millennium (BBB-/stable).

Long-term IDR maintained on rating watch negative:

ING Bank Slaski SA (A+/RWN).

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