...Some reliance on wholesale and parental funding. Outlook: Stable Standard & Poor's Ratings Services' stable outlook on Poland-based mBank mirrors its view that the bank's capitalization is gradually improving, owing to the bank's sound earnings capacity supported by positive growth prospects of the Polish economy. In our opinion, this would likely counter parent bank Commerzbank AG's weakening capacity to provide mBank with support if we were to downgrade Commerzbank. However, we may consider downgrading mBank if we perceive a weakening in mBank's strategic importance to its parent and a consequent weakening in the likelihood of extraordinary support from Commerzbank. Conversely, our ratings on mBank would be unaffected as long as our stand-alone credit profile (SACP) assessment for mBank is at or above '##+', owing to a potential group support from the parent, according to our group criteria....
