Less than a week after watching in the high ranking of the Portuguese republic Moody’s has improved its assessment of six Portuguese banks. In a note posted this morning, the financial rating agency announced that it has updated the ratings for Caixa Geral de Depósitos, BCP, Santander Totta, Novo Banco, BPI and Crédito Agrícola.
“The rating action taken today follows a decision to upgrade the rating of Portuguese bonds to Baa2 from Baa3 with a stable outlook,” the report, released on Tuesday, said, stressing that it did not, however, make any changes to the country’s profile. , which remains at the “moderate +” level.
This service takes into account “challenging credit market conditions, reflecting high levels of private debt – despite recent improvements – and high exposure of banks to the private sector.” In addition, “although banks have improved funding and liquidity in recent years, and restored market access, Portuguese banks remain sensitive to changes in market sentiment and shocks.”
Moody’s has upgraded the long-term deposit ratings of four banks and the senior unsecured debt rating of another bank. He also upgraded the long-term counterparty risk ratings for three banks and the counterparty risk ratings for three banks. At the same time, he upgraded the baseline credit score of one of the financial institutions and updated three others unchanged. Finally, he changed three points of view.
(Updated news)
