The international rating agency Fitch affirmed the Long Term Issuer Default Ratings (IDRs) of UniCredit Bulbank AD at BBB- and the viability rating at bb+.
“[UniCredit] Bulbank's VR of 'bb+' is one notch above our assessment of the Bulgarian operating environment and is underpinned by its robust capitalisation and solid profitability. The VR also reflects stable funding, comfortable liquidity and its leading domestic market franchise and substantial resolution of bad debts to normalised levels” reads the official communication of Fitch.
According to Fitch, UniCredit Bulbank is strategically important for UniCredit. The long-term BBB- rating “reflects a high level of management and operational integration” with the group. The negative outlook is preserved and it mirrors the current group outlook, which is a result of the outlook on Italy according to Fitch.
The full communication of Fitch Ratings is available on the agency website www.fitchratings.com
Additional media information:
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Ekaterina Ancheva, tel +359 (0) 2 9264 963, flbufsjob/bodifwbAvojdsfejuhspvq/ch