S&P affirms Millennium

S&P said it affirmed its BB/B long- and short-term issuer credit ratings on Millennium bcp.

The outlook is stable.

At the same time, the agency affirmed the BBB-/A-3 long- and short-term resolution counterparty ratings on the company, as well as all the issue ratings.

S&P said the affirmation follows the announcement that the company’s Polish subsidiary, Bank Millennium SA, in which Millennium bcp owns a 50.1% stake, has reached an agreement to acquire a 99.79% stake of another Polish bank, Euro Bank SA from Société Générale.

“The affirmation reflects our view that the overall impact of the acquisition on BCP's financials will be limited,” the agency said in a news release.

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