The rating agency affirmed Banca Romaneasca’s long-term issuer default rating at ‘B-’, with negative outlook, the short-term rating at ‘B’, the viability rating at ‘b-’ and the support rating at ‘5’.
Banca Romaneasca’s ratings have been withdrawn as the issuer stopped participating in the rating process and they are no longer considered by Fitch to be relevant to the agency’s coverage, the agency said in a statement.
Fitch will no longer provide rating or analytical coverage of the Romanian bank.
Banca Romaneasca is 89.07% -owned by the National Bank of Greece (NBG). The Greek group also has indirect control of Romanian insurer Garanta and operates three other companies on the local market, namely NBG Leasing IFN, NBG Securities Romania and NBG Factoring Romania.