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Fitch upgrades viability ratings of 3 Hungarian banks

Fitch Ratings on Sept. 29 upgraded the viability ratings ofCIB Bank Zrt.,K&H Bank Zrt. andErste Bank Hungary Zrt.

CIB Bank's viability rating was upgraded to "b"from "b-", K&H Bank's to "bb+" from "bb" andErste Bank Hungary's to "b+" from "b". The agency alsoaffirmed the long- and short-term issuer default ratings of K&H Bank andErste Bank Hungary at BBB/F2 and of CIB Bank at BBB-/F3. All three banks'support ratings were affirmed at 2.

The outlooks on the long-term issuer default ratings of theKBC Group NV,Erste Group Bank AGand Intesa SanpaoloSpA units are stable.

The viability rating upgrades reflect Fitch's view that theoperating and regulatory environments have stabilized for Hungarian banks,decreasing pressures on asset quality and profitability.