Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative - S&P Global Ratings’ Credit Research

Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative

Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative - S&P Global Ratings’ Credit Research
Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative
Published Mar 31, 2009
1233 words — Published Mar 31, 2009
Price US$ 225.00  |  Buy this Report Now

About This Report

  
Abstract:

On March 31, 2009, Standard&Poor's Ratings Services lowered its long-term counterparty credit ratings on Hungary-based OTP Bank Rt. (OTP) and OTP Mortgage Bank to 'BB+' from 'BBB' and its short-term counterparty credit ratings to 'B' from 'A-3'. The outlook on both banks is negative. The rating action follows the lowering of the sovereign credit ratings on the Republic of Hungary to BBB-/Negative/A-3 from BBB/Negative/A-3. (See " Republic of Hungary Long-Term Ratings Cut To 'BBB-' On Deteriorating Economy; Outlook Negative", published on RatingDirect on March 30, 2008. It takes into account our concerns about the likelihood of severe repercussions on OTP's financial profile in 2009 and 2010 as a result of accelerating economic contraction and industry risk in Hungary

  
Brief Excerpt:

RESEARCH Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To '##+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative Publication date: 31-Mar-2009 Primary Credit Analyst: Harm Semder, Frankfurt (49) 69-33-999-158;...

  
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: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative" Mar 31, 2009. Alacra Store. May 16, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-OTP-Bank-Rt-OTP-Mortgage-Bank-Downgraded-To-BB-B-On-Sovereign-Downgrade-And-Higher-Economic-Risk-Outlook-Negative-712783>
  
APA:
S&P Global Ratings’ Credit Research. (). Research Update: OTP Bank Rt., OTP Mortgage Bank Downgraded To 'BB+/B' On Sovereign Downgrade And Higher Economic Risk; Outlook Negative Mar 31, 2009. New York, NY: Alacra Store. Retrieved May 16, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-OTP-Bank-Rt-OTP-Mortgage-Bank-Downgraded-To-BB-B-On-Sovereign-Downgrade-And-Higher-Economic-Risk-Outlook-Negative-712783>
  
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