Fitch downgraded the ratings of Nova KBM
Fitch, one of the leading global rating agencies, changed the Rating of Nova KBM d.d. from BBB/F3 to BBB-/F3.
The downgrades of the IDRs and Support Rating Floor of NKBM (to ‘BBB-’ from ‘BBB’) reflect downgrade of the Slovenian sovereign rating to ‘A-’ with a Negative Outlook.
The list of rating actions is as follows:
- Long-term foreign currency IDR: downgraded to 'BBB-' from 'BBB',
- Short-term foreign currency IDR: affirmed at 'F3', removed from Rating Watch Negative
- Negative Viability Rating: downgraded to 'b-' from 'b'
- Support Rating: affirmed at '2', removed from Rating Watch Negative
- Support Rating Floor: downgraded to 'BBB-' from 'BBB', removed from Rating Watch
- Hybrid capital instrument: downgraded to 'CC' from 'B+', removed from RWN