DBRS: KBC unaffected

DBRS said that following KBC Group NV's 4Q11 results, its ratings remain unchanged. They include the senior long-term debt & deposits at A and KBC Bank's senior long-term debt & deposits at A (high).

All have a stable trend.

On an underlying basis, which excludes certain exceptional or non-operating items, KBC benefited from a quarter-on-quarter rebound in the contribution of its Belgian business unit and an improvement in the contribution of its Central & Eastern Europe business unit, DBRS said.

Somewhat offsetting this, merchant banking continued to struggle, particularly with rising impairments in its Irish operations, the agency added.

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