Romania: Fitch Rating for Three Banks Affirmed

Romania: Fitch Rating for Three Banks Affirmed / Picture: © Fitch

US rating agency Fitch has confirmed BRD Groupe Societe Generale S.A.'s and Banca Comerciala Romana S.A.'s (BCR) long-term Issuer Default Ratings (IDR) at BBB+ and Garanti Bank S.A.'s (Garanti Romania) long-term IDR at BBB-. Moreover, BCR’s Viability Rating (VR) was downgraded from bb- to b+. The rating agency explains BCR’s downgrade of VR because of the bank because of a high and…