Powszechna Kasa Oszczędności Bank Polski S.A.: Podtrzymanie ratingów przez agencję Moody's (2017-12-20)

Report No. 48/2017 – Affirmation of PKO Bank Polski S.A. ratings by Moody’s Investors Service.



Legal basis:

Article 17(1) of the MAR


Contents of the report:
The Management Board of PKO Bank Polski S.A. (“Bank”) informs that on 19 December 2017 Moody’s Investors Service (“Moody’s”) published a press release on the website www.moodys.com (“Release”), in which it informed about affirmation for long- and short-term Bank’s deposits ratings at the level A2/P-1. The outlook remains stable on the Bank’s financial strength rating and long-term ratings.

Moody’s informed also that other ratings are unaffected by this rating action.


According to the Release:

• long-term deposits rating was affirmed at the level A2, outlook maintained “stable”,

• short-term deposits rating was affirmed at the level P-1,

• senior unsecured debt rating was unaffected at the level A3, outlook maintained “stable”,

• senior unsecured MTN Program rating was unaffected at the level (P)A3,

• other short-term debt Program rating was unaffected at the level (P)P-2,

• counterparty risk assessment was unaffected at the level A2(cr)/P-1(cr).

The rating action taken by Moody’s is driven by (according to the rating agency) greater clarity on the legislative proposal regarding foreign currency mortgages at Polish banks, and Moody's assessment that potential costs associated with the draft legislation will be according to the rating agency manageable and less onerous for the banks.