Fitch rates Erste notes BBB+

Fitch Ratings said it assigned Erste Bank Hungary Zrt.'s upcoming senior preferred bonds an expected BBB+ long-term rating. The issue is expected to be for €350 million.

“EBH's SP debt is rated in line with the bank's long-term issuer default rating (IDR), reflecting average recovery prospects of the bank's SP debt. This reflects our expectations that EBH's resolution buffers under minimum requirement for own funds and eligible liabilities (MREL) will comprise both SP and junior debt instruments as well as equity,” Fitch said in a press release.

The outlook is stable.

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