Research Update: Spanish Insurer Fenix Directo Unsolicited Ratings Lowered To 'BBB-pi' Following Sovereign Rating Action Oct 12
- Language: English
- Published: October 2012
- Region: Spain
Following a review under Standard & Poor's revised bank criteria (published Nov. 9, 2011), we have affirmed the unsolicited long-term 'BBB-pi' (public information) rating on Hungary-based K&H Bank. Our rating on K&H Bank factors in a 'bb' anchor for commercial banks operating in Hungary, as well as our opinion that K&H Bank's business position, capital and earnings, risk position, funding, and liquidity are all neutral for the rating. The rating benefits from some uplift, because we consider K&H Bank to be a strategically important subsidiary of Belgium-based KBC Bank N.V., as our criteria define this term. As previously announced on Dec. 13, 2011, Standard & Poor's Ratings Services has affirmed its unsolicited long-term 'BBB-pi' (public information) rating on Hungary-based K&H...
Companies mentioned in this report are: K&H Bank (Unsolicited Ratings),Kredyt Bank S.A. (Unsolicited Ratings)
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
SHOW LESS READ MORE >
K&H Bank (Unsolicited Ratings),Kredyt Bank S.A. (Unsolicited Ratings)