Fitch revises outlook on KBC to stable

Fitch Ratings said it revised the outlooks on KBC Group NV and KBC Bank NV's to stable from negative and affirmed their long-term issuer default ratings at A and A+, respectively.

“The revision of the outlook reflects Fitch's updated economic assumptions for the group's main operating countries, indicating that while pandemic-related risks remain, they are likely to be absorbed by the group's current rating headroom. Fitch expects that the strong forecast economic recovery in these countries will support the group's asset quality and operating profitability, and we expect the latter to remain close to the four-year average level in 2021-2022,” the agency said in a press release.

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