Bank Ochrony Srodowiska S A : CR 34/2020 BOŚ S.A. Rating and Outlook Upheld

Current Report 34/2020 BOŚ S.A. Rating and Outlook Upheld - publicised on 4 November 2020, at 1:46 pm.

The Management Board of Bank Ochrony Środowiska S.A. (Bank) domiciled in Warsaw hereby inform that on 4 November 2020 Fitch Ratings Ltd (Agency) confirmed its ratings and upheld Bank's outlook.

Below find the ratings of BOŚ S.A.:

Long-term Foreign Currency IDR confirmed at 'BB-', outlook negative, Short-term Foreign Currency IDR confirmed at 'B'

National Long-term Rating confirmed at 'BBB-(pol), outlook negative, National Short-term Rating confirmed at 'F3(pol)',

Support Rating: confirmed at '4', Support Rating Floor confirmed at 'B', Viability Rating confirmed at 'bb-'.

National long-term senior unsecured bond programme confirmed at 'BBB-(pol)', National short-term senior unsecured bond programme confirmed at 'F3 (pol)', Rating for subordinated bonds confirmed at 'BB(pol)'.

Definitions of individual ratings are available at the Agency's website at www.fitchratings.com, where the Agency also publishes its ratings, criteria and methodologies.

In its report the Agency informs that confirmation of the Bank's ratings reflects the Agency's view that at the moment, the Bank has a moderate buffer for the coverage of potential losses arising from the deteriorated economic situation caused by the current pandemic. The negative outlook was upheld as in the Agency's opinion, if the current economic situation deteriorates further and longer, the rating may be downgraded in the future.

Legal basis:

Art. 17 section 1 of Regulation (EU) no. 596/2014 of the European Parliament and of the Council of 16 April 2014 on market abuse (market abuse regulation) and repealing Directive 2003/6/EC of the European Parliament and of the Council and Commission Directives 2003/124/EC, 2003/125/EC and 2004/72/EC (MAR).