Fitch revises views on Expressbank, OTP Lease to negative

Fitch Ratings said it revised the outlooks on Expressbank AD's and OTP Leasing's long-term issuer default ratings to negative from stable and affirmed their long-term IDRs at BB+.

“The negative outlook on Expressbank's and OTPL's IDRs reflects increased uncertainty about the ability of their ultimate parent, Hungary's OTP Bank plc, to provide support to the Bulgarian subsidiaries. This reflects the pressure on OTP's credit profile arising from the economic effects of the coronavirus outbreak,” Fitch said in a press release.

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