Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB' - S&P Global Ratings’ Credit Research

Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB'

Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB' - S&P Global Ratings’ Credit Research
Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB'
Published Feb 19, 2019
7 pages (2186 words) — Published Feb 19, 2019
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On Feb. 15, 2019, we raised our sovereign ratings on Hungary to 'BBB/A-2'. We now see a lower risk of OTP Bank's default on senior liabilities that may be protected with an effective bail-in resolution process. We are therefore raising our resolution counterparty ratings on OTP Bank and OTP Mortgage Bank to 'BBB/A-2' and affirming our 'BBB-/A-3' issuer credit ratings. The outlook on the long-term issuer credit rating is stable. On Feb. 19, 2019, S&P Global Ratings raised its long- and short-term resolution counterparty ratings (RCRs) on Hungary-based OTP Bank PLC (OTP) and its core subsidiary OTP Mortgage Bank to 'BBB/A-2' from 'BBB-/A-3'. At the same time, we affirmed our 'BBB-/A-3' long- and short-term issuer credit ratings (ICRs) on both

  
Brief Excerpt:

...+ On Feb. 15, 2019, we raised our sovereign ratings on Hungary to '###/A-2'. + We now see a lower risk of OTP Bank's default on senior liabilities that may be protected with an effective bail-in resolution process. + We are therefore raising our resolution counterparty ratings on OTP Bank and OTP Mortgage Bank to '###/A-2' and affirming our '###-/A-3' issuer credit ratings. + The outlook on the long-term issuer credit rating is stable....

  
Report Type:

Research Update

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
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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB'" Feb 19, 2019. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Hungary-Based-OTP-Bank-And-OTP-Mortgage-Bank-Resolution-Counterparty-Ratings-Raised-To-BBB-2168842>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: Hungary-Based OTP Bank And OTP Mortgage Bank Resolution Counterparty Ratings Raised To 'BBB' Feb 19, 2019. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Hungary-Based-OTP-Bank-And-OTP-Mortgage-Bank-Resolution-Counterparty-Ratings-Raised-To-BBB-2168842>
  
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