07.03.2016

mBank’s rating upgraded by Fitch Ratings

Current Report 

Drafted on:

07.03.2016

Current report No

14/2016

Abbreviated issuer’s name

mBank

Contents: 
The Management Board of mBank S.A. hereby informs that on 7 March 2016 Fitch Ratings upgraded the long-term foreign currency Issuer Default Rating (IDR) for mBank from “BBB-” to “BBB” and the short-term foreign currency IDR from “F3” to “F2”.  The outlook for the long-term rating is stable. The long-term senior unsecured debt rating and the short-term senior unsecured debt rating were raised to “BBB” and “F2” respectively. The upgrade of mBank’s ratings was driven  by the upgrade of the long-term rating of Commerzbank from “BBB” to “BBB+”. According to Fitch there is a high probability that mBank would be supported by Commerzbank, if required.

Long-term rating "BBB" indicates good credit quality. Short-term rating “F2” represents good intrinsic capacity for timely payment of financial commitment. Fitch assigns long-term ratings on the scale: AAA, AA, A, BBB, BB, B, CCC, CC, C, RD, D and short-term ratings on the scale: F1, F2, F3, B, C, RD, D, possibly applying "+" or "-", depending on the level of the grade main category. Definitions of Fitch's ratings are available on Fitch website at: www.fitchratings.com, where ratings, criteria and methodology are published.

SIGNATURE OF THE PERSONS REPRESENTING THE COMPANY

President of the Management Board

Cezary Stypułkowski 07.03.2016