Fitch Puts Poland's mBank and Millennium on RWN on FC Mortgage Risks
23:01
Fitch Ratings has placed the Issuer Default Ratings (IDR), Viability Ratings (VR), and National Ratings of mBank S.A. (BBB-/bbb-) and Bank Millennium S.A. (BBB-/bbb-) on Rating Watch Negative (RWN). At the same time, the agency has affirmed Santander Bank Polska S.A.'s (Santander BP, BBB+/Negative/bbb+) and Bank Ochrony Środowiska's (BOS, BB-/Negative/bb-) ratings.
The rating actions reflect Fitch's view that legal risks related to legacy exposures to foreign currency (FC) mortgages have…
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