Fitch rates Nova Kreditna notes BBB-

Fitch Ratings said it assigned Nova Kreditna Banka Maribor's upcoming senior non-preferred bonds a BBB-expected long-term rating. The issue is expected to be euro-denominated with a two- to three-year maturity. The planned issue size is €250 million.

“NKBM's SNP debt is rated in line with the bank's long-term IDR, reflecting: i) full depositor preference in Slovenia; ii) our current expectations that NKBM will build and maintain external minimum requirement for own funds and eligible liabilities (MREL) and use SNP and more junior debt to meet its resolution buffer requirements; and iii) that the SNP and more junior debt buffer will be above 10% of the risk-weighted assets (RWA) of NKBM's resolution group,” Fitch said in a press release.

The outlook is stable.

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