Fitch upgrades NIBC Bank to ’BBB’ on Structural Improvement of Earnings; Outlook StablePress Release -
Yesterday, 20 December 2017, Fitch Ratings raised NIBC Bank N.V.’s (NIBC) long-term issuer Default Rating (IDR) to ‘BBB’, from ‘BBB-‘, stable outlook.
According to Fitch:
- The upgrade reflects the structural improvements in NIBC’s earnings which Fitch expects will be sustained;
- NIBC’s ratings incorporate the niche franchise and business model, improved earnings and overall asset quality, despite continued lending to some cyclical industries and are underpinned by the sound capital and leverage ratios.
Statement of the CFO, Herman Dijkhuizen:
“We are pleased that Fitch has decided to raise the credit rating of NIBC Bank. The new credit rating follows the solid H1 2017 results and the successful issue of the Additional Tier 1 (AT1) bond on 22 September 2017. In addition, it more accurately reflects the Bank’s current state and the way we are currently viewed by the market.”