Banco Comercial Português, S.A. informs about Fitch Rating Actions
03 April 2020 - 8:11PM
Banco Comercial Português, S.A. informs about Fitch Rating Actions
Banco Comercial Português, S.A. (“Bank”) informs
that Fitch Ratings, which has recently been revising the ratings of
the European banks in different geographies due to the disruption
caused by the coronavirus outbreak, also made a reassessment of the
Portuguese market and communicated the following rating actions on
the Bank:
- Affirmed BCP’s Long-Term Rating of ‘BB’ (“IDR” – Issue Default
Rating) and its Intrinsic Rating of ‘bb’ (“VR” - Viability Rating),
and revised the Outlook to Negative from Positive, reflecting the
uncertainty related to the coronavirus crisis;
- Assigned a ‘BB-’ rating to the Bank’s senior non-preferred debt
and a ‘B+’ rating to its tier 2 debt, according to Fitch’s new
rating methodology for banks;
- Assigned a ‘BB+’/‘B’ rating to the Bank’s deposits, one notch
above the Long-Term IDR, reflecting the view of Fitch Ratings that
depositors enjoy a superior level of protection.
End of announcementBanco Comercial
Português, S.A.
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