Fitch takes Ibercaja from watch

Fitch Ratings said it affirmed Ibercaja Banco SA’s long-term issuer default rating at BB+ and viability rating at bb+ and removed them from rating watch negative.

“The affirmation primarily reflects our view that Ibercaja is not immediately at risk from the impact of the economic downturn from the pandemic. Our view is supported by improved capital levels just ahead of the outbreak of the crisis, providing it with headroom to absorb moderate deterioration of profitability and asset quality,” Fitch said in a press release.

The outlook is negative.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.