Rating affirmation reflects the group’s robust operating performance and strong prudential metrics.

The change in Outlook reflects the ongoing resilience of the group's operating performance and the declining exposure to Hungarian sovereign risk.

The change in Outlook is driven by the weakening macroeconomic conditions in the CEE region and the group's high exposure to growing sovereign risk.

The instrument rating is based on bank's BBB+/Stable issuer rating and Preferred Senior Unsecured status of the notes

The instrument rating is based on bank's BBB+/Stable issuer rating and Preferred Senior Unsecured status of the notes.