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Fitch assigns national ratings to mBank, unit

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Fitch assigns national ratings to mBank, unit

Fitch Ratings on Jan. 18 assigned mBank SA and mBank Hipoteczny SA national long- and short-term ratings of AA-(pol)/F1+(pol).

Fitch simultaneously affirmed mBank and mBank Hipoteczny's long- and short-term foreign-currency issuer default ratings at BBB/F2. Also affirmed were the two lender's support ratings of 2 and mBank's "bbb-" viability rating.

MBank's ratings are driven by institutional support from its majority owner Commerzbank AG, Fitch said, adding that mBank is a strategically important subsidiary of the German lender.

At the same time, the agency affirmed Millennium BCP Polish unit Bank Millennium SA's long- and short-term foreign-currency issuer default ratings at BBB-/F3. Also affirmed were Bank Millennium's A(pol) national long-term rating.

The outlook on all long-term ratings is stable.