Fitch affirms 3 Slovak banks

Fitch Ratings said it affirmed Slovenska Sporitelna's long-term issuer default rating at A, Volksbank Slovensko AS's long-term issuer default rating at BBB+ and Vseobecna Uverova Banka's long-term issuer default rating at A+.

The outlook is stable, reflecting the outlook on the company's parent institutions.

The ratings are all based on institutional support from their ultimate majority shareholders, Fitch said.

Slovenska Sporitelna's rating is based on a likelihood of support from its indirect 100% shareholder, Erste Group Bank AG, which remains extremely high if required, the agency said.

Volksbank Slovensko's rating is based on a high probability of support, in case of need, from its ultimate majority shareholder, Oesterreichische Volksbanken Aktiengesellschaft and its strong integration into Volksbank International, Fitch said.

Vseobecna Uverova Banka's rating reflects the extremely strong potential support from its ultimate 96.8% shareholder, Intesa SanPaolo Spa, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.