Fitch Ratings on Sept. 7 affirmed the long- and short-term issuer default ratings of Romania-based UniCredit Bank SA, Bulgaria-based UniCredit Bulbank AD and Croatia-based Zagrebacka Banka d.d. at BBB-/F3 and revised the outlook on the long-term ratings to negative from stable.
The agency also affirmed the 2 support ratings of the three banks, which are subsidiaries of Italy's UniCredit SpA. Bulbank's and Zagrebacka's "bb+" viability ratings were unaffected by the action, as was UniCredit Bank's "bb" viability rating.
Fitch said the outlook revisions follow a similar action on the lenders' Italian parent.