Fitch Ratings: Near-Term Risks to Global Financial Institutions Ratings Reduced

(The following statement was released by the rating agency) Related Fitch Ratings Content: Global Financial Institutions: Pandemic Ratings Update (https://www.fitchratings.com/site/re/10144280) Fitch Ratings-New York-10 December 2020: The near-term rating risks for global financial institutions identified at the start of the pandemic have reduced, says Marjan van der Weijden in a Fitch Ratings presentation. This is being signalled by a slower pace of rating actions since June, and the skew towards rating affirmations with Negative Outlooks and unchanged Outlooks/Watches. But medium-term downside risks from a potentially sluggish economic recovery remain. Banks and non-bank financial institution groups may remain on Negative Outlook well into 2021, as government support to the economy and borrowers is gradually removed and asset-quality risks start crystallising. A presentation addressing these issues, "Global Financial Institutions: Pandemic Ratings Update" is available at https://events.fitchratings.com/globalfinancialinstitutionspan. A related report with the same title is available at www.fitchratings.com or by clicking the link above. Contact: Marjan van der Weijden Global Group Head, Financial Institutions +1 (212) 612 7850 New York Media Relations: Jessica Torchia, New York, Tel: +1 212 908 0653, Email: jessica.torchia@thefitchgroup.com Louisa Williams (NYSE:WMB), London, Tel: +44 20 3530 2452, Email: louisa.williams@thefitchgroup.com Additional information is available on www.fitchratings.com ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTPS://WWW.FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEB SITE AT WWW.FITCHRATINGS.COM. 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