Fitch affirms Zagrebacka; outlook negative

Fitch Ratings said it has affirmed Zagrebacka Banka's long-term issuer default rating at BBB+ and changed the outlook to negative from stable.

The rating action follows the revision of Croatia's sovereign outlook to negative from stable, the agency said, noting that it has also affirmed Zagrebacka's short-term issuer default rating at F2, support rating at 2 and individual rating at C/D.

The agency said it has affirmed the bank's senior unsecured debt at BBB+.

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