Banco Comercial Português, S.A. informs about ratings upgrade by Moody's
October 17 2018 - 4:04AM
Banco Comercial Português, S.A. informs about ratings upgrade by
Moody's
Banco Comercial Português, S.A. informs about ratings
upgrade by Moody's
Moody’s upgraded by one-notch BCP’s long-term
deposit and senior unsecured debt ratings to Ba3 from B1,
reflecting, essentially, the upgrade of the bank’s BCA to b1 from
b2 and an unchanged moderate government support for BCP.
Moody’s kept the positive outlook on BCP
ratings.
The upgrade of BCA reflects the bank’s
improvement credit fundamentals demonstrated by:
- declining NPA ratio;
- enhanced risk-absorption capacity; and
- improving domestic bottom-line profitability, which is enhanced
by the positive contribution from bank’s international
operations.
Besides the deposits and senior unsecured rating
the following ratings were also upgraded: Counterparty risk
assessment upgraded from Ba1 (cr) to Baa3 (cr); Counterparty risk
ratings upgraded from Ba2 to Ba1; Subordinated debt upgraded from
B3 to B2; Subordinated MTN Program upgraded from (P)B3 to (P)B2;
Preferred Stock non-cumulative upgraded from Caa2 (hyb) to Caa1
(hyb).
End of announcement
Banco Comercial Português,S.A.
- 2018 10 16 Upgrade da Moodys EN
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