Commerzbank restructuring plan is negative for credit rating: Moody's
Reuters
Published Sep 23, 2019 08:27AM ET
Commerzbank restructuring plan is negative for credit rating: Moody's
FRANKFURT (Reuters) - Commerzbank's (DE:CBKG) restructuring plan, on which the company is due to formally decided later this week, is negative for the German lender's credit rating, Moody's said in a note.
The credit ratings agency said plans to sell Commerzbank's Polish subsidiary mBank is "credit negative" because "it will further limit the bank's growth potential given that mBank meaningfully contributed to the group's revenue and profits, and its growth".
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Written By: Reuters
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