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Bank Polska Kasa Opieki S.A. Feb 10
Standard & Poors, Feb 2010
Abstract
Core status within and long-term strategic importance to UniCredit SpA. Dominant domestic market position. Robust capitalization and good liquidity profile. A more conservative risk strategy than the domestic average. High economic risk in Poland, reflected in the level of the sovereign ratings. Worsened economic environment, which is impairing the bank's asset quality. Decreased operating revenues, which strain the bank's profitability. The ratings on Poland-based Bank Polska Kasa Opieki S.A. (Pekao) reflect its core status within, and long-term importance to, Italy-based UniCredit SpA (A/Stable/A-1), for which it acts as a cornerstone of activities in the strategically key markets of Central and Eastern Europe (CEE). Because Standard & Poor's Ratings Services deems Pekao to be a core entity within the UniCredit group,...
Companies mentioned in this report are: Bank Polska Kasa Opieki S.A.,UniCredit SpA,UniCredit Bank Austria AG,MedioCredito Centrale SpA,Zagrebacka banka dd,UniCredit Bank AG,UniCredit Bulbank AD,UniCredito Italiano Capital Trust,Yapi ve Kredi Bankasi A.S.,UniCredit Leasing SpA,ZAO UniCredit Bank,Unicredit Luxembourg S.A.,UniCredit Corporate Banking SpA,UniCredit CAIB AG,UniCredit Family Financing Bank SpA
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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