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Fitch revises outlooks on Intesa Sanpaolo's units in Slovenia, Hungary

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Fitch revises outlooks on Intesa Sanpaolo's units in Slovenia, Hungary

Fitch Ratings on Sept. 7 affirmed the BBB-/F3 long- and short-term issuer default ratings of Slovenia-based Banka Intesa Sanpaolo d.d. and Hungary-based CIB Bank Zrt. — both units of Italy's Intesa Sanpaolo SpA — and revised the outlook on the long-term ratings to negative from stable.

The rating agency also affirmed both lenders' support rating at 2. Banka Intesa Sanpaolo's "bb+" viability rating was unaffected, as was CIB Bank's "bb-" viability rating.

The outlook revision follows a similar action on the banks' Italian parent, with Fitch noting that the units' issuer default ratings are driven by support from their parent.