BRUSSELS: Moody’s Investors Service has today affirmed KBC Bank Ireland PLC’s (KBCI) long-term deposit and senior unsecured debt ratings at Ba1. The outlook on the ratings was changed to stable from negative.
The rating agency also affirmed the bank’s standalone baseline credit assessment (BCA) and adjusted BCA at b3 and ba1, respectively. Additionally, Moody’s affirmed KBCI’s Counterparty Risk Assessment (CR Assessment) at Baa1(cr)/P-2(cr). The bank’s short-term deposit ratings were affirmed at Not-Prime. Finally, Moody’s affirmed KBCI’s Backed Commercial Paper ratings at Prime-1.
This rating action reflects the stabilisation of the bank’s credit fundamentals, ongoing support from the parent, KBC Group NV, as well as the results of Moody’s Advanced Loss Given Failure (LGF) analysis.
