Fitch Ratings on May 25 upgraded Banca Transilvania SA's long-term issuer default rating to BB+ from BB with a stable outlook and its viability ratings to "bb+" from "bb," among other actions on four Romania-based lenders.
Banca Transilvania's B short-term foreign-currency issuer default rating, 5 support rating and No Floor support rating floor were affirmed.
At the same time, Fitch raised UniCredit Bank SA's viability ratings to "bb" from "bb-" and affirmed its long-term foreign-currency issuer default rating at BBB- with a stable outlook, F3 short-term foreign-currency issuer default rating and 2 support rating.
Also affirmed were the BBB+ long-term foreign-currency issuer default ratings of Banca Comerciala Româna SA and BRD-Groupe Société Générale SA with stable outlooks, their F2 short-term foreign-currency issuer default ratings, and 2 support ratings. Banca Comerciala Româna's BBB+ long-term local-currency issuer default rating with a stable outlook and "bb+" viability rating were also affirmed.
Fitch said the upgrade of the viability ratings of Banca Transilvania and UniCredit Bank and the affirmation of that of Banca Comerciala Româna reflect a supportive operating environment in Romania that is boosting the banks' credit profiles and financial performance, among other factors.
UniCredit Bank is a unit of UniCredit SpA; Banca Comerciala Româna is a unit of Erste Group Bank AG; and BRD-Groupe Société Générale is a unit of Société Générale SA.
