Our ratings on MTB Magyar Takarékszövetkezeti Bank (MTB) are based on the strategic importance to its parent, Hungary's MKB Bank Group, to which it is expected to transfer all assets in early 2023. We expect MTB to materially benefit from the integration into MKB by building a larger operator in the Hungarian market with prospectively much more efficient operations. We therefore raised our long-term issuer credit ratings on MTB to 'BB+' from 'BB' and discontinued our 'bb' stand-alone credit profile assessment. The positive outlook reflects our expectations of the potential synergy effects from the merger, which will provide broader revenue and product diversification as well as improved efficiency. On Dec. 19, 2022, S&P Global Ratings raised its long-term issuer credit
