Fitch rates Triodos Bank notes BB+

Fitch Ratings said it assigned Triodos Bank NV's planned subordinated tier 2 issue an expected long-term rating of BB+.

The expected rating is two notches below Triodos’ bbb viability rating. “The notching considers the loss severity risk arising from the likely poor recovery prospects for the notes due to subordination in a non-viability event,” Fitch said in a press release.

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