Ceska Sporitelna's risk-adjusted capital position has further strengthened, leading us to revise our assessment of its stand-alone credit profile to 'a-' from 'bbb+'. At the same time, since this reduces the bank's additional loss-absorbing capacity (ALAC), we are removing one notch of uplift for ALAC support that we previously included in the ratings. We are therefore affirming our 'A-/A-2' long- and short-term ratings on Ceska Sporitelna. The negative outlook reflects the remaining uncertainties on how the national resolution law is applied to the bank in the context of its Austrian parent's resolution as a systemic European banking group. On Aug. 1, 2016, S&P Global Ratings affirmed the 'A-/A-2' long- and short-term counterparty credit ratings on Ceska Sporitelna A.S. The outlook
