Fitch alters Abanca view to stable

Fitch Ratings said it revised Abanca Corporacion Bancaria, SA's outlook to stable from negative and affirmed the bank's BBB- long-term issuer default rating.

“The stable outlook reflects Fitch's expectation of an economic recovery in Spain despite the presence of short-term risks, and our view of Abanca's adequate capital buffers to absorb the pressure that may arise from remaining uncertainties caused by the pandemic on asset quality and profitability. The outlook revision also reflects the bank's strengthened franchise following recent acquisitions,” Fitch said in a press release.

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