15.03.2017
S&P upgrades Erste Group’s rating to A- / Outlook Positive
- Two of the three leading international rating agencies have already upgraded Erste Group Bank AG following the publication of its annual results for 2016
S&P has raised Erste Group Bank AG’s issuer credit ratings to A-/A-2 (from BBB+/A-2), with a positive outlook. The upgrade reflects the stronger financial profile, as well as the above average funding and liquidity strength, at the group level and at the main operating subsidiaries in Central and Eastern Europe, namely Erste Group’s local banks.
The rating agency’s upgrade is supported by Erste Group’s positive profitability development and also takes into account the substantially improved asset quality thanks to a portfolio clean-up, as well as stronger earnings and higher capital.
Recently, Fitch had also upgraded Erste Group’s rating by one notch from BBB+/F2 to A-/F1 with a stable outlook. The rating action reflects Fitch’s view that Erste Group has strengthened its risk profile as a consequence of NPL sales, but also of improving operating conditions in Central and Eastern Europe. The rating agency listed further positive drivers, such as Erste Group’s solid market position in its core markets or its successful capital generation.
S&P has raised Erste Group Bank AG’s issuer credit ratings to A-/A-2 (from BBB+/A-2), with a positive outlook. The upgrade reflects the stronger financial profile, as well as the above average funding and liquidity strength, at the group level and at the main operating subsidiaries in Central and Eastern Europe, namely Erste Group’s local banks.
The rating agency’s upgrade is supported by Erste Group’s positive profitability development and also takes into account the substantially improved asset quality thanks to a portfolio clean-up, as well as stronger earnings and higher capital.
Recently, Fitch had also upgraded Erste Group’s rating by one notch from BBB+/F2 to A-/F1 with a stable outlook. The rating action reflects Fitch’s view that Erste Group has strengthened its risk profile as a consequence of NPL sales, but also of improving operating conditions in Central and Eastern Europe. The rating agency listed further positive drivers, such as Erste Group’s solid market position in its core markets or its successful capital generation.