Invest in Bulgaria - The Preferred Partner of Investors Seeking Opportunities in Bulgaria
Follow:
GUGUSHEV & PARTNERS is among the leaders on the Bulgarian legal market Comprehensive Organization of MBA and EMBA Study Trips in Bulgaria
NEWS BY TOPIC
FDI in Bulgaria (13)
Health (4)
Macroeconomic Data (49)
Business (361)
Investments (155)
Infrastructure (97)
Financial (126)
Economy (350)
Construction (14)
Politics (62)
Real Estate (27)
Interesting Facts (24)
Sports (10)
NEWS BY SECTOR
Software and Information Technology (28)
Real Estate (56)
Tourism (112)
Waste Management (9)
Automotive (23)
Electronics (3)
General (81)
Renewable Energy (66)
Agriculture (22)
Construction (90)
Food and Beverage (20)
Textile (2)

Fitch Affirms 3 Bulgarian Mid-Sized Banks
FITCH AFFIRMS 3 BULGARIAN MID-SIZED BANKS
Date: 11/07/2012
Source: novinite.com
Fitch Affirms 3 Bulgarian Mid-Sized Banks

Fitch rating agency has affirmed the long-term issuer default ratings of three mid-sized Bulgarian banks.

The banks are Societe Generale Express Bank AD (SGE) and Allianz Bank Bulgaria AD (ABB) at 'BBB+' with a Stable Outlook.

Fitch has also maintained MKB UnionBank AD's (MKBU) Long term IDR of 'BBB+' on Rating Watch Negative (RWN).

At the same time, the agency has affirmed ProCredit Bank (Bulgaria) AD's (PCB) Long-term IDR at 'BB+' with a Stable Outlook and upgraded PCB's Viability Rating (VR) to 'bb-' from 'b+'.

SGE is wholly owned by Societe Generale, while PCB is 81% owned by ProCredit Holding AG & Co.

Allianz SE is the controlling shareholder of ABB through its 66% share in Allianz Bulgaria Holding, which in turn owns a 79.9% in ABB.

MKBU's direct shareholder is MKB Bank Hungary Zrt, in turn owned by Bayerische Landesbank.

The IDRs and Support Ratings of SGE, ABB, MKBU and PCB are driven by the high probability of the banks being supported by their respective majority shareholders, if required, the agency said in a statement.


Topic: Financial



Featured District
PLEVEN DISTRICT AND CITY INFORMATIONPleven
Invest Bulgaria Charts
Foreign Liabilities of Bulgaria
Foreign Liabilities of Bulgaria

Capital and Financial Account of Bulgaria
Capital and Financial Account of Bulgaria

See all charts
Did You Know?
Bulgarian roses
Bulgarian roses
The Bulgarian roses, used to make some of the finest perfumes in the world, can not be found ... More

Sofia Subway was launched in January 1998 and is the first and only network of this kind in Bulgaria. The largest streams of passengers now are reaching up to 40,000 people during rush hour. After the completion of the subway system, it will have 47 stations and capacity of more than 1,000,000 passengers per day.

Intelligence Pathways - Outsource your Business, Competitive Intelligence or Back Office to Bulgaria

Bulgaria Translation - Full service Bulgarian Translation company

© Copyright 2004-2019 Invest Bulgaria Group Ltd, Sofia, Bulgaria. All rights reserved.

 
Please read Conditions of Use, Copyright Statement and Privacy Policy for this web page and web site.


Bulgaria Translation Bulgarian Agriculture Bulgarian Textile BestFlowers.bg Sofia Web Works Bulgarian Coins Intelligence Pathways Bulgarian Outsourcing

Crafted by Sofia Web Works. Maintained by Website Maintenance, the kings of Website Migration.


Our Featured Members