Standard & Poor yesterday raised its long-term rating for Komercni banka to BB+ (previously BB). S&P also removed Komercni from the Credit Watch list. KB’s outlook is “positive.” The move was in response to Societe Generale taking over KB. The Fitch rating agency upgraded KB ratings at the end of last week for the same reason. The upgrade is positive for KB, but it is unlikely to have an affect on the stock..
KB’s new executive committee was appointed yesterday: 8 of its 15 members are Societe Generale representatives. Neutral.
(Ondrej Datka)