Fitch Ratings has assigned a 'BB-' final rating to
The notes due were issued through its
The final rating is in line with the expected rating that Fitch assigned to the proposed debt on
Key Rating Drivers
The rating on the notes corresponds to BdB's 'BB-' Long-Term Foreign Currency Issuer Default Rating (IDR)/Stable Outlook, and ranks equal to its other senior unsecured debt. BdB's ratings are equalized with
Rating Sensitivities
Factors that could, individually or collectively, lead to negative rating action/downgrade:
As the notes are rated at the same level as the IDR, the rating on the notes is sensitive to any change in the bank's IDR.
Factors that could, individually or collectively, lead to positive rating action/upgrade:
As the notes are rated at the same level as the IDR, the expected rating on the notes is sensitive to any change in the bank's IDR.
Best/Worst Case Rating Scenario
International scale credit ratings of Financial Institutions and Covered Bond issuers have a best-case rating upgrade scenario (defined as the 99th percentile of rating transitions, measured in a positive direction) of three notches over a three-year rating horizon; and a worst-case rating downgrade scenario (defined as the 99th percentile of rating transitions, measured in a negative direction) of four notches over three years. The complete span of best- and worst-case scenario credit ratings for all rating categories ranges from '
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