Fitch Ratings affirmed on October 5, 2012 the ratings of the Czech Republics three largest banks Ceska Sporitelna (CS), Komercni Banka (KB) and Ceskoslovenska Obchodni Banka (CSOB), the rating agency said in a statement. The Long-term Issuer Default Ratings (IDS) of CS and KB were affirmed at A and of CSOB at BBB+. The outlook on CS and CSOB is stable and negative on KB. The agency has also affirmed the banks' Viability Ratings (VRs) at 'bbb+'. CS's and KB's IDRs and Support ratings are driven by potential support from their parent banks - Erste Group Bank AG and Societe Generale. CSOB's IDRs are driven by its VR, but also underpinned at the 'BBB+' level by potential shareholder support. CSOB is a unit of Belgiums KBC. |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more