KBC Group: Moody's downgrades its outlook to 'stable'
(CercleFinance.com) - Late on Thursday, ratings agency Moody's downgraded its outlook on Belgium's KBC Group from "positive" to "stable," citing the rise in the bank's loan amount.
Moody's said that this change reflects the continued growth of KBC's outstanding loans since November 2018, especially in the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland.
The agency also cited potential risks appearing in Belgium, relating to Belgian banks' increasing exposures to the real estate sector, and finally increased competition in a low interest rate environment.
However, Moody's has affirmed its "Baa1" long-term senior unsecured debt and issuer ratings for KBC Group.
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Moody's said that this change reflects the continued growth of KBC's outstanding loans since November 2018, especially in the Czech Republic, Slovakia, Hungary, Bulgaria and Ireland.
The agency also cited potential risks appearing in Belgium, relating to Belgian banks' increasing exposures to the real estate sector, and finally increased competition in a low interest rate environment.
However, Moody's has affirmed its "Baa1" long-term senior unsecured debt and issuer ratings for KBC Group.
Copyright (c) 2019 CercleFinance.com. All rights reserved.