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Fitch revises outlook on KBC Bank


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Fitch revises outlook on KBC Bank

Fitch Ratings revised the outlook on KBC Group NV unit KBC Bank NV to positive from stable.

The outlook revision followed the buildup of a significant junior debt buffer that offers additional protection to the bank's senior unsecured creditors, the agency noted.

The rating agency affirmed the A long-term issuer default rating of KBC Group, KBC Bank and KBC Verzekeringen NV.

Also affirmed were the "a" viability ratings, F1 short-term issuer default ratings and 5 support ratings of KBC Group and KBC Bank. The outlook on KBC Group is stable.

The rating agency also affirmed the A+ insurer financial strength ratings on KBC Group Re SA and on KBC Verzekeringen, with stable outlooks.

Also affirmed were the senior debt ratings of KBC Group and KBC Bank at A/F1 and that of KBC IFIMA SA at A. The short-term debt rating of KBC IFIMA was affirmed at F1.