Fitch Upgrades BNG Bank to 'AAA'; Outlook Stable

According to Fitch, the upward revision of BNG Bank's rating to 'AAA' reflect the finalisation of the bank's resolution strategy and the approval by the Single Resolution Board (SRB) of a simplified obligations plan for BNG Bank. Under simplified obligations the course of action for BNG Bank, should it ever fail, would be liquidation under national insolvency proceedings. Fitch believes that the adoption of the simplified obligations plan for BNG Bank reduces the risk of losses for senior creditors in a resolution because in their view it substantially decreases the likelihood of a resolution being triggered.

BNG Bank is also rated Aaa by Moody's and AAA by S&P, confirming BNG Bank's position as one of the world's highest rated banks.