Moody's: Powszechna Kasa Oszczednosci Bank Polski negative

Moody's Investors Service said it changed the outlook on Powszechna Kasa Oszczednosci Bank Polski SA's A2 long-term debt and deposit ratings to negative from stable.

Moody's said the change in outlook reflects a reduction in the government's ownership of the bank and the government's medium-term plan to sell its indirect shareholding in the bank.

This action aligns the outlooks on the bank's standalone bank financial strength rating and long-term ratings.

The standalone bank financial strength rating of C- (equivalent to a Baa2 standalone credit assessment) was affirmed with a negative outlook.

The Prime-1 short-term rating was not affected, the agency said.

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