Outlook Revised To Positive On One Polish Bank, Ratings On Two Affirmed On Reduced Economic Risks

We expect Poland's GDP per capita to exceed US$16,000 by end-2021 and note that the private non-financial sector continues to improve its debt capacity. At the same time, gradually increasing residential property prices have started to put moderate pressure on balances in the economy. Ultimately, strong GDP growth outweighs risks from a still moderate increase in housing prices, leading us to see less overall credit risk for the Polish banking sector. We are revising our outlook on Bank Pekao to positive from stable, while the outlook on mBank remains negative and the outlook on Alior Bank remains stable. We are affirming Bank Pekao at 'BBB+/A-2', mBank at 'BBB+/A-2', and Alior Bank at 'BB/B'. Frankfurt (S&P Global Ratings) June 17, 2019--S&P

...- We expect Poland's GDP per capita to exceed US$16,000 by end-2021 and note that the private non-financial sector continues to improve its debt capacity. - At the same time, gradually increasing residential property prices have started to put moderate pressure on balances in the economy. - Ultimately, strong GDP growth outweighs risks from a still moderate increase in housing prices, leading us to see less overall credit risk for the Polish banking sector. - We are revising our outlook on Bank Pekao to positive from stable, while the outlook on mBank remains negative and the outlook on Alior Bank remains stable. - We are affirming Bank Pekao at '###+/A-2', mBank at '###+/A-2', and Alior Bank at '##/B'. Frankfurt (S&P Global Ratings) June 17, 2019--S&P Global Ratings today took the following rating actions on Polish banks: - We revised the outlook on Bank Polska Kasa Opieki S.A. (Bank Pekao) to positive from stable, and affirmed the '###+/A-2' ratings. - We affirmed the long- and short-term...

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