Friday, December 9, 2016

Fitch: Sale of Pekao neutral for IDR, it is possible to downgrade support GazetaPrawna.pl

“Pekao’s Ratings at ‘A-’ with Outlook stable based on the continued strength of the Bank and thus the expected change of ownership would not have an effect on it. However, would be sensitive to the apparent weakening of Pekao companies or significant increase in appetite for risk”, – stated in the message.

making sure that the ROM and PFR are in talks about buying Bank shares, the report of Pekao support at level 2 was in November placed on the watch list indicating the negative, he recalled.

and then tendered Fitch placing ratings of support in the watchlist, indicating negative reflects the potential sale of the Bank and the expectation of the Agency that its new shareholders after the acquisition of control may have less ability and inclination to provide Bank emergency assistance than it is currently.

ROM and PFR signed with the UniCredit agreement, which provides for the purchase through them, ultimately, respectively, 20% and 12.8% of the shares in Bank Pekao for the total amount of 10.59 billion. The price for the package is purchased through ROM is of 6.46 billion rubles.

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