Getin Noble Bank (GNB)

1.51PLN
-3.82% 17:04

Current report 18/2015

22.05.2015

INFORMATION FROM MOODY’S ON GETIN NOBLE BANK S.A. RATING

Acting on the basis of § 5(1)(26) of the 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 with later amendments), the Management Board of Getin Noble Bank S.A. with its registered office in Warsaw („Issuer”) hereby announces that it took knowledge of the fact that the rating agency Moody’s  („Agency”) made a change to the outlook of the Issuer and determined it as stable for Long-term Deposit Rating of the Issuer and left the rating unchanged on Ba2 level.

The above changes are a consequence of steps taken on 17 March 2015 when the Agency withdrew the negative outlook for Long-term Deposit Rating of the Issuer and put it on the observation list with a possibility of being improved. The Issuer informed on this fact in Current report 3/2015 dated 18 March 2015.

As a result of completed review the Agency reduced Baseline Credit Assessment (BCA) from ba3 to b1 level and Adjusted Baseline Credit Assessment from ba3 to b1 level.

The above changes are also a consequence of steps taken on 17 March 2015 when the Agency introduced the following ratings: Baseline Credit Assessment (BCA) oraz Adjusted Baseline Credit Assessment, both on ba3 level and put them on the observation list with a possibility of being reduced. The Issuer informed on this fact in Current report 3/2015 dated 18 March 2015.

In the Agency’s opinion the affirmation of the Long-term Deposit Rating of the Issuer on Ba2 level fully incorporates the BCA assessment on b1 level as well as Advance LGF that fully counterbalances the limitation of possibilities of native government support and raises the awarded BCA assessment by two levels.

The Issuer informs at the same time that the Agency introduced Counterparty Risk Assessment and determined it on Ba1 level (cr) and Counterparty Risk Assessment and determined it on NP level (cr).

Legal basis: Art. 56 (1)(2a) of the Act on public offering and conditions of introducing financial instruments to organized trading system and on public companies (Journal of Laws of 2005 No. 184, item 1539, later amended) in connection with § 5(1)(26) of the 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 with later amendments).