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S&P upgrades Slovenia's Nova Ljubljanska Banka

S&P Global Ratings on May 18 upgraded Nova Ljubljanska banka dd's long-term issuer credit rating to BB+ from BB and revised the outlook on the rating to developing from positive.

The upgrade is based on the reduced economic risk in Slovenia, strengthening the bank's stand-alone credit profile, particularly its asset quality and earnings-generation capacity in its core domestic business lines.

The developing outlook reflects the rating agency's view that it could affirm, upgrade or downgrade its ratings on NLB over the next six to 12 months, during which it expects the lender's privatization issue to be resolved and the Slovenian government's plan for a potential IPO to have become clearer.

S&P also affirmed the Slovenian lender's B short-term issuer credit rating.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings. The original S&P Global Ratings documents referred to in this news brief can be found here.