Fitch affirms Bank Gospodarki Zywnosciowej

Fitch Ratings said it affirmed Bank Gospodarki Zywnosciowej's support rating at 2. Fitch said it has not assigned long-term issuer default, short-term issuer default and individual ratings to the bank.

The support rating reflects the bank's continued importance to the agricultural and food industries sector in Poland, the agency said.

It also reflects the continued presence of the Polish State in its shareholder structure, albeit with a reduced stake of 37.3% as at June 2007. Fitch said it believes there would be a high probability of support from the Polish State if needed, S&P said.

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