Getin Noble Bank (GNB)
+ 0.67% 17:01
Current report 42/201204.06.2012
RATING OF FITCH RATINGS OF GETIN NOBLE BANK S.A.
Getin Noble Bank S.A. (formerly Get Bank S.A.) (the “Issuer”, the “Bank”) hereby informs that in connection with the merger of the Issuer and Getin Noble Bank S.A. today, i.e. on 01 June 2012 Fitch Ratings („Fitch Ratings”, the „Agency”) confirmed the Bank’s rating affirmed to Getin N0ble Bank S.A. on 7 January 2010 (Getin Noble Bank S.A. Current report 28/2010 and 28/2010/K) and confirmed on 22 June 2011 (Getin Noble Bank S.A. Current report 34/2010 and 34/2010/K), i.e.: • Long-term foreign currency IDR: 'BB'; Outlook Stable • Short-term foreign currency IDR: 'B' • National Long Term Rating: BBB(pol); Outlook Stable • Viability Rating: 'BB' • Support Rating: '3' • Support Rating Floor: 'BB' The affirmation of the Bank’s IDR and Viability Rating reflect the Bank’s robust pre-impairment performance, improved liquidity position and stable retail deposit base. These factors are balanced by weak asset quality, still significant, albeit falling risk in the Bank’s large exposure to foreign currency (FC) mortgages and reliance on the interbank market to hedge structural currency mismatches. Rating definitions are available on the Agency's public website: www.fitchratings.com, where ratings, criteria and methodologies are published as well. Fitch's Code of Conduct, Confidentiality, Conflicts of Interest and Securities Trading Policy, Firewall Policy as well as other relevant documents are also available from the “Code of Conduct” section of the site: www.fitchratins.com. Legal basis: Article 56(1)(2a) of the Polish Act of 29 July 2005 on public offerings and the conditions for introducing financial instruments into an organized trading system and on public companies (Journal of Laws of 2005, No. 184, item 1539 later amended) read with § 5(1)(26) and § 32 of the Minister of Finance Regulation of 19 February 2009 on current and periodic reporting by issuers of securities and the rules of equal treatment of the information required by the laws of non-member states (Journal of Laws of 2009 No. 33, item 259 later amended).