Fitch upgrades Banca Transilvania’s rating to ‘BB’

Fitch Ratings has upgraded the long-term issuer default rating (IDR) of Banca Transilvania (BT) to ‘BB’ from ‘BB-‘ and has also announced that it has removed the Romanian bank from rating watch evolving (RWE).

Also, the IDR of UniCredit Tiriac Bank (UCTB) has been confirmed at ‘BBB’ and that of ProCredit Bank (PCBR) at ‘BBB-‘. The rating institution has also maintained Garanti Bank’s ‘BB+’ long-term IDR on rating watch positive (RWP).

The outlooks for BT, UCTB and PCBR are stable, said Fitch representative in a press release last Friday.

Simona Bazavan

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