KBC Bank, KBC Verzekeringen, KBC Group ratings affirmed - Fitch |
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Wed, 11 Jul 2007 13:06
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MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed the ratings on Belgium-based KBC Bank, insurance company KBC Verzekeringen NV, and holding company KBC Group, and said the ratings of the three companies remain aligned as the group is managed in an integrated manner, notably in risk and capital.Fitch has affirmed KBC Bank's long-term issuer default rating at 'AA-' with a stable outlook, short-term issuer default rating at 'F1+', individual rating at 'B' and support at '2', and said the support rating floor is unchanged at 'BBB+'.Fitch has affirmed KBC Verzekeringen NV's insurer financial strength rating at 'AA' and long-term issuer default rating at 'AA-', all with a stable outlook. KBC Group's long and short-term issuer default ratings have been affirmed at 'AA-' and 'F1+', respectively.The ratings reflect the strong franchises of the two operating subsidiaries of the KBC Group as well as their consistent strategy, quality of management, moderate risk profile and solid capital, Fitch said.TFN.newsdesk@thomson.comans/manCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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