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Rating of senior preferred debt of mBank upgraded by Fitch
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Current Report |
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Drafted on: |
21.09.2021 |
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Current report No |
45/2021 |
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Legal basis: |
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Article 56 sec. 1 item 2) of the Act on public offering, conditions governing the introduction of financial instruments to organized trading, and public companies – current and periodic information |
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Contents: |
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The Management Board of mBank S.A. (“Bank") informs that on 21 September 2021 Fitch Ratings upgraded mBank’s rating of outstanding senior preferred debt to BBB, i.e. one notch above the Bank’s Long-Term Issuer Default Rating (BBB-), and removed the rating from Rating Watch Positive. The upgrade of rating is driven by the completion of Bank’s first issuance of senior non-preferred debt and reflects Fitch’s opinion regarding protection that could accrue to senior preferred debt holders from the Bank's junior resolution debt buffers. In Fitch’s view, the senior preferred debt will have meaningfully lower default risk relative to mBank’s failure risk.
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SIGNATURE OF THE PERSONS REPRESENTING THE COMPANY
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Vice-director for investment supervision, Compliance Department |
Maciej Mołdawa 21.09.2021 |