DBRS lifts KBC Bank view to positive

DBRS said it confirmed the long-term issuer rating of KBC Bank NV, the principal banking subsidiary of KBC Group NV, at A (high).

The agency also confirmed the company's short-term issuer rating at R-1 (middle), long-term issuer ratings at A and short-term issuer rating at R-1 (low).

The trend also was revised to positive from stable while the trend on the short-term ratings remains stable, the agency said.

The group’s long-term issuer rating is positioned one notch lower than the bank's intrinsic assessment, reflecting the structural subordination of the holding company.

The ratings reflect the company's well-established and diversified franchise and an expectation that it will maintain strong profitability and absorb challenging conditions in certain business areas, DBRS said.

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