S&P elevates Abanca

S&P said it raised its long-term issuer credit rating on Abanca Corporacion Bancaria SA to BB+ from BB and affirmed the B short-term issuer credit rating.

The outlook is stable.

“The rating action reflects our view that Abanca is strengthening its capitalization. The recent issuance of hybrid instruments, combined with the bank's improving earnings retention and the expected capital gains from the disposal of some assets, should allow Abanca to further enhance its solvency while its asset quality and its funding and liquidity remain sound overall,” S&P said in a news release.

© 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.