07/02/2019 | Press release | Distributed by Public on 07/02/2019 00:51
International rating agency Fitch Ratings has revised Abanka d.d.'s Outlook to Positive from Stable
International rating agency Fitch Ratings has revised Abanka d.d.'s Outlook to Positive from Stable. Fitch has also affirmed the banks' Long-Term (IDRs) at 'BB+', Viability Ratings at 'bb+' and Short-Term Issuer Default Ratings at 'B'.
The rating action follows the announcement by NKBM on 20 June 2019 that it has signed a sale and purchase agreement with the Slovenian Sovereign Holding (SSH) for the acquisition of 100% of the shares of Abanka.
Abanka's Positive Outlook reflects Fitch's view that following the acquisition by NKBM and progress with the integration of the two banks, Abanka's and NKBM's credit profiles will become aligned given the plan to merge the two banks. At the completion of the legal merger Abanka's Support Rating Floor (SRF) and (SR) will be withdrawn.
This announcement will also be published on Abanka d.d.'s website as of 2 July 2019 and will be accessible for a period of no less than five years.