Fitch affirms Zuercher Kantonalbank

Fitch Ratings said it affirmed Zuercher Kantonalbank's long-term issuer default rating at AAA, short-term issuer default rating at F1+, viability rating at a+ and support rating at 1.

The outlook is stable.

“ZKB's IDRs and support rating are based on institutional support from the Canton of Zurich (AAA/stable), the bank's guarantor and sole owner, and are equalised with the canton's IDRs,” the agency said in a news release.

“The canton guarantees all of ZKB's non-subordinated liabilities according to a specific cantonal law (ZKB Law).”

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