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BRE Bank S.A. (Unsolicited Rating) Dec 11
Standard & Poors, Dec 2011
Abstract
Support from Commerzbank AG, its major shareholder. Good market position and increasingly diversified business lines. Weak risk position due to high foreign currency exposure. Potential risk stemming from fast lending growth. The unsolicited public information ('pi') rating on Poland-based BRE Bank S.A. (BRE) reflects our 'bbb-' anchor, as well as our view that the bank's business position, capital and earnings, and funding and liquidity are neutral rating factors, while its risk position is a negative rating factor. The stand-alone credit profile (SACP) is in the 'bb' category. We generally neither apply modifiers (+ or -) nor assign outlooks to 'pi' ratings. The 'pi' rating is one category higher than the bank's SACP. This reflects the bank's 'strategically important' status to...
Companies mentioned in this report are: BRE Bank S.A. (Unsolicited Ratings),Commerzbank AG
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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