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S&P upgrades Slovenia-based Nova Ljubljanska Banka

S&P Global Ratings on May 17 upgraded Slovenia-based Nova Ljubljanska banka d.d.'s long- and short-term issuer credit ratings to BBB-/A-3 from BB+/B and changed the outlook to stable from positive.

The rating agency affirmed the bank's long- and short-term resolution counterparty ratings at BBB/A-2.

The upgrade is prompted by the agency's view that banking industry risks in Slovenia have decreased, mainly because of the government's reduced ownership of lenders and stronger banking supervision.

The stable outlook reflects Ratings' view that Slovenian economic and industry risk environment will be favorable in the next 12 to 24 months and the lender's asset quality will continue to improve. The rating agency expects the bank to maintain a risk-adjusted capital ratio slightly under 10% during the next two years, and believes a possible sale of another 10% stake in the bank by the government is highly unlikely to have a negative impact on the bank's operations.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.