Fitch revises Andbank bond view to negative

Fitch Ratings said it revised the outlook on Andorra Capital Agricol Reig, BV's mortgage covered bonds to negative from stable and affirmed the rating at BBB+.

“The rating action follows the revision of the outlook on Andorra Banc Agricol Reig SA's (Andbank) BBB long-term issuer default rating (IDR) to negative, which serves as the reference IDR for the rating analysis (see "Fitch Takes Rating Action on Andorran Banks on Coronavirus Risks", dated April 20, 2020 at www.fitchratings.com), Fitch said in a press release

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