OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative - S&P Global Ratings’ Credit Research

OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative

OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative - S&P Global Ratings’ Credit Research
OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative
Published Mar 31, 2009
890 words — Published Mar 31, 2009
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

FRANKFURT (Standard&Poor's) March 31, 2009--Standard&Poor's Ratings Services said today that it had lowered its long-term counterparty credit ratings on Hungary-based OTP Bank Rt. (OTP) and OTP Mortgage Bank to 'BB+' from 'BBB' and its short-term counterparty credit ratings to 'B' from 'A-3'. The outlook on both banks is negative. The rating action follows the lowering of the sovereign credit ratings on the Republic of Hungary to BBB-/Negative/A-3 from BBB/Negative/A-3. (See " Republic of Hungary Long-Term Ratings Cut To 'BBB-' On Deteriorating Economy; Outlook Negative", published on RatingDirect on March 30, 2008. It takes into account our concerns about the likelihood of severe repercussions on OTP's financial profile in 2009 and 2010 as a result of accelerating

  
Brief Excerpt:

RESEARCH OTP Bank Rt., OTP Mortgage Bank Downgraded To '##+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative Publication date: 31-Mar-2009 Primary Credit Analyst: Harm Semder, Frankfurt (49) 69-33-999-158; harm_semder@standardandpoor...

  
Report Type:

Ratings Action

Ticker
OTP@HB
Issuer
OTP Bank PLC
GICS
Diversified Banks (40101010)
Sector
Global Issuers
Country
Hungary
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
Buy Now

More from S&P Global Ratings’ Credit Research

S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

About the Author


Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative" Mar 31, 2009. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/OTP-Bank-Rt-OTP-Mortgage-Bank-Downgraded-To-BB-B-On-Sovereign-Downgrade-And-Higher-Economic-Risk-Outlook-Negative-712782>
  
APA:
S&P Global Ratings’ Credit Research. (). OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative Mar 31, 2009. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/OTP-Bank-Rt-OTP-Mortgage-Bank-Downgraded-To-BB-B-On-Sovereign-Downgrade-And-Higher-Economic-Risk-Outlook-Negative-712782>
  
US$ 150.00
$  £  €
Have a Question?

Any questions about the report you're considering? Our Customer Service Team can help! Or visit our FAQs.

More Research

Search all our Credit Research from one place.