Moodyʼs: Winding up MKB Bank resolution is credit positive
Wikimedia Commons/Globetrotter19
The completion of the resolution of MKB Bank is credit positive, ratings agency Moodyʼs said in an issuer comment, according to Hungarian news agency MTI.
MKB said Moodyʼs noted that the resolution process had been undertaken according to international rules and made use of a number of tools, though not a recapitalization by creditors.
The state of Hungary acquired MKB Bank from BayernLB in 2014. The bank was restructured and sold to a consortium of two private equity funds and a pension fund in late June.
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