BIG Bank GDAŃSKI S.A. announces that the rating agency Moody's Investor Service increased long-term deposit rating of the Bank by two grades to Baa1 (the eight grade in a 21-grade scale) and a short-term rating by 1 grade to P-2 (the second grade in a four-grade scale). The financial capability rating D remains unchanged.
Moody's decided to increase the rating for BBG S.A. after getting information about a successful issue of BIG Bank GDAŃSKI SA Series K shares worth of 764.3 million PLN. As a result of the issue Banco Comerciale Portugues, the BBG S.A. strategic partner, will increase its shareholding from 19.98 to 42.78%. In the opinion of Moody's this means a strong support from BCP for BIG Bank GDAŃSKI SA during the period of the downturn in the banking sector in Poland.
Ratings achieved by the Bank (Baa1 and P-2) are at the level of Poland's long-term and short-term rating, which means that they are the highest grades which can be assigned to a Polish company. The assignment of those grades is a confirmation of the Bank's position in the market and puts it among most highly rated financial institutions in Poland.