Fitch affirms Nova Kreditna Bank

Fitch Ratings said it affirmed Nova Kreditna Banka Maribor's long-term issuer default rating at A-, short-term issuer default rating at F2 and hybrid capital instruments of €100 million and hybrid capital notes of €50 million have been affirmed at BB.

The outlook is stable.

The ratings reflect the high likelihood of support from the Slovenian government in case of need, Fitch said.

The ratings also reflect the company's moderate capitalization and weakened profitability due to increasing levels of non-performing loans and its sizeable loan impairment charges, the agency said.

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