Moody’s cuts Getin Noble Bank view to negative

Moody's Investors Service said it changed the outlook to negative from stable and affirmed the Ba2 long-term local and foreign-currency deposit ratings of Getin Noble Bank SA.

Concurrently, the agency affirmed the bank's long-term Ba1(cr) counterparty risk assessment and b1 baseline credit assessment (BCA) and adjusted BCA.

The short-term Not-Prime deposit ratings and Not-Prime(cr) CRA are unaffected by this action.

Moody’s said the affirmation and change of the outlook to negative from stable reflects its assessment of rising downward pressure on the bank's standalone b1 BCA due to its weakened loss absorption capacity – problem loans as a percentage of loan loss reserves and

The agency’s key capital metric tangible common equity increased to 95% as of the first half of 2016 from 81% in December 2014.

Getin Noble Bank’s deposit ratings continue to receive a two-notch rating uplift from the Advanced Loss-Given-Failure analysis, Moody’s added.

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