Fitch lowers mBank

Fitch Ratings said it downgraded mBank SA's and mBank Hipoteczny's long-term issuer default ratings to BBB- from BBB.

At the same time the agency placed both banks' ratings on rating watch positive.

“The downgrade reflects our opinion that mBank is no longer a strategically important subsidiary for Commerzbank AG (BBB+/negative/bbb+),” the agency said in a news release.

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