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Fitch affirms MKB Bank support rating at '1'

Fitch Ratings on Monday said it affirmed the Support Rating of Hungary's MKB Bank at '1'.

MKB's Support Rating takes account of Fitch's view of the extremely high probability of support from its 89.75% shareholder, Bayerische Landesbank (rated 'A+'/Rating Watch Negative), should such support be necessary, Fitch said.

While BayernLB currently has no intention to alter its willingness to provide support, downside risk for the support rating could arise if the European Commission imposes a change in ownership at MKB as part of its approval of BayernLB's restructuring plan, or if there is a change in BayernLB's Long-term IDR. (MTI-ECONEWS)