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DBRS upgrades KBC Group, units

DBRS on March 15 upgraded the long-term issuer and senior debt ratings of KBC Group NV to A, and confirmed the group's short-term issuer and debt ratings at R-1 (low).

The ratings agency also upgraded KBC Bank NV's long-term issuer, senior debt and deposit ratings to A (high) and the short-term issuer, debt and deposit ratings to R-1 (middle); and certain of Ceskoslovenská Obchodná Banka a.s.' ratings.

The trends on all the ratings are stable.

The ratings action reflect the consistent performance achieved by KBC in recent years and its ability to steadily build up its capital buffers.

It also considers improvements in the group's risk profile and consolidation of its already well-established franchise.