S&P upholds rating of Bank Pekao with negative outlook

Standard & Poor upheld its rating of Bank Pekao, it was announced Wednesday. The agency maintained the long-term rating for the bank at BBB+,  the short-term rating at A-2, with a negative outlook. "The confirmation of the rating upholds the view that the financial reliability of the bank remains unchanged, despite the lowering of Poland's overall credit rating." the agency wrote in an announcement. In similar news, PKO BP announced that S&P withdrew its credit rating, as the bank does not plan to issue any bonds on international markets, "in particular in the United States".  Paweł Borys, the managing director, emphasized that the decision "has nothing to do with last week's downgrading of Poland's rating [by S&P]".