...+ We continue to deem Hungary-based Magyar Takarekszovetkezeti Bank ZRt. (Takarekbank) as an integral member of the Savings Cooperative Group Hungary and see its core group status as unchanged. + The capital ratios of the Savings Cooperative Group Hungary have decreased over 2018 due to a marked decline of its equity capital and higher-than-expected lending to corporate clients, leaving less room for the group to absorb unexpected losses. + We consider that the lower capitalization is offsetting the positive momentum in the group's restructuring. + We are therefore revising our outlook on Takarekbank from positive to stable and affirming our '##/B' long- and short-term issuer credit ratings on the bank. + The stable outlook reflects our expectation that the Savings Cooperative Group Hungary will continue its transformation to overcome structural profitability issues. The outlook also reflects that the group will maintain its solid funding and liquidity profile, and its current capitalization....
