Fitch rates Banca Comerciala Romana bond A-

Fitch Ratings said it assigned an expected A- rating to Romania-based Banca Comerciala Romana's 200 million Romanian leu bond issue, which may be increased to up to 575 million Romanian leu. The agency also assigned an A- local-currency issuer default rating to the bank and affirmed its foreign-currency issuer default rating at A-, short-term rating a F2, individual rating at C/D and support rating at 1.

The bond issue will have a maturity of three years, and the bonds will rank equally among themselves and at least equally with all other present and future unsecured obligations of the bank save for such obligations as may be preferred by law.

The agency said the ratings reflect the extremely high potential support available to the bank from its majority shareholder, Austria-based Erste Bank der oesterreichischen Sparkassen.

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