DBRS shifts Abanca trend to stable

DBRS said it confirmed the ratings of Abanca Corporacion Bancaria SA, including the BBB long-term issuer rating and revised the trend to stable, from negative.

“The change of the trend to stable reflects our view that Abanca should successfully cope with the economic disruption caused by the Covid-19 pandemic. As a result of the significant reduction in non-performing assets (NPAs) in recent years, and high coverage ratio, DBRS Morningstar views Abanca as being well placed to face any potential asset quality deterioration driven by the end of the support provided by the moratoria schemes,” said DBRS in a press release.

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