The International rating agency Fitch Ratings confirmed the Long-Term Issuer Default Rating (IDR) of UBB. It continues being 'A-' with Outlook Positive. The rating agency also confirmed the awarded Shareholder Support Rating (SSR) to 'a-' and the Short-term IDR to 'F1'. UBB’s Viability Rating was increased from 'bb’ to 'bb+'.

The Viability Rating (VR) increase reflects the opinion of Fitch on the structural improvements in the Bank’s profitability, supported by the merger with KBC Bank Bulgaria and by the quality of assets. It also expresses the stance of the rating agency on the mitigated business and integration risks, ensuing from the merger of the two banks.

„UBB continues having the highest long-term credit rating in Bulgaria. The VR increase is yet another materialization of the effect from the successful integration between UBB and KBC Bank Bulgaria and of the trust our customers have in us.“, commented Peter Roebben, Chief Executive Officer of UBB and Country Manager of KBC Group in Bulgaria.

UBB’s Viability Rating is based on its leading role in the Bulgarian market, the balanced business model, the moderately depreciated loans, improved profitability, high capital ratios and stable funding and liquidity profile.

Detailed description of the ratings is available on the rating agency’s webpage.