On April 14, 2025, S&P Global Ratings raised its rating to 'BBB/A-2', with a negative outlook, on OTP Bank PLC, the ultimate parent of OTP Mortgage Bank. At that time, we also upgraded subsidiary OTP Mortgage Bank. However, due to an administrative error, the outlook on it remained stable, rather than negative, to match that on the parent. Therefore, we corrected by revising our outlook on OTP Mortgage Bank to negative from stable to align with that on OTP Bank PLC. We also affirmed our 'BBB' issuer credit rating on OTP Mortgage Bank. The negative outlook reflects that on parent OTP Bank PLC given that we would lower the rating on OTP Mortgage Bank if we downgraded OTP Bank PLC.
