Current Report 

Drafted on:

16.10.2018

Current report No

51/2018

Abbreviated issuer’s name

mBank

Contents: 

The Management Board of mBank S.A. ("Bank") informs that on 15 October 2018, S&P Global Ratings ("S&P") affirmed the issuer long-term rating for mBank at 'BBB+' and the short-term issuer rating at 'A-2'. The outlook of mBank’s issuer rating remains negative, as the rating outlook for the parent company - Commerzbank AG.

At the same time, following the upgrade of the long-term Poland's rating from 'BBB+' to 'A-' on 12 October 2018, S&P raised the long-term resolution counterpart rating (RCR) for mBank from 'BBB+' to' A-'. The short-term RCR has been confirmed at 'A-2'.

An RCR is a forward-looking opinion of the relative default risk of certain senior liabilities that may be protected from default with an effective bail-in resolution process for the issuing financial institution.

Deputy Director of Compliance Department

Agata Rowińska 16.10.2018