The rating agency Fitch gave an “A minus” rating to the HVB Tiriac Commercial Bank for long term currency debts, an F2 rating for short term credits, a “D” individual rating and a “1” support qualification.

Fitch also re-affirmed its ratings for the Tiriac Bank of “A Minus” for long term currency debts, F2 for short term loand, individual “D” and “1” for support before it withdrew them simultaneously.

The HVB Tiriac Bank was established on September 1, 2006 as a result of merger between HVB Bank Romania and the Ion Tiriac Commercial Bank. The new entitity is owned 50% plus one share by Bank Austria Creditanstalt while the rest belongs to Romanian businessman Ion Tiriac.