ING Bank Śląski | Annual Report 2014

ING BANK ŚLĄSKI

ING BANK ŚLĄSKIAnnual Report 2014

Ratings

ING Bank Śląski S.A. cooperates with the following rating agencies: Fitch Ratings and Moody’s Investors Service.

Fitch Ratings Ltd. assigns full rating to ING Bank Śląski S.A. under agreement between the Bank and the Agency. As at the end of 2014, Fitch carried out the annual rating review of the Bank. As a result, all the ratings to date were affirmed (Fitch Agency’s press release of 26 November 2014 and full rating report for the Bank of 13 January 2015).

The full rating assigned to the Bank by Fitch as at the date of the Financial Statements publication was as follows:

Fitch Ratings Ltd.  
Long-term IDR A
Outlook for sustaining the above rating Negative
Short-term IDR F1
Viability rating bbb+
Support rating 1

Long-term IDR and Short-term IDR specify the entity’s capacity to promptly pay its financial liabilities. “A” Long-term IDR of the entity reflects high capacity of the Bank to promptly pay its long-term financial liabilities. F1-rating (Short-term IDR) stands for the highest appraisal of the capacity to promptly pay the short-term financial liabilities (up to 13 months). In the case of both ratings, Fitch took into account high probability of obtaining potential support from the Bank’s controlling shareholder – ING Bank N.V. (ING Bank Śląski S.A. has the highest support rating – level 1). Viability rating of bbb+ means that according to the Agency, the intrinsic creditworthiness of the Bank; i.e., without any support (understood as the capacity to promptly pay one’s liabilities) is high. The Agency is of the opinion that the Bank has a strong capital and liquidity position.

The Moody’s Investors Service Ltd. Agency on the other hand, assigns ING Bank Śląski S.A. rating on the basis of public information. The Bank’s ratings for financial viability assigned by the Agency were as follows:

Moody’s Investors Service Ltd.  
LT Rating Baa1
ST Rating P-2
Bank Financial Strength (BFSR)/ Baseline Credit Assessment (BCA) D+ / baa3
LT Rating Outlook Negative
BFSR Outlook Stable

The above ratings were affirmed by Moody’s in November 2014 (Credit Opinion of 21 November 2014).

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