Banco Comercial Português, S.A. informs about upgrades of deposit ratings to Ba1 and senior debt rating to Ba2 made by Moody's
Banco Comercial Português, S.A. ("BCP") informs that Moody's Investors Services ("Moody's") has improved the following rating ratings assigned to BCP:
- Long-term deposit rating from Ba3 to Ba1;
- Long-term senior debt from Ba3 to Ba2;
- Baseline Credit Assessment (BCA) and Adjusted BCA from b1 to ba3;
- Subordinated debt from B2 to B1;
- AT1 from Caa1 (hyb) to B3 (hyb);
- Ba1 / Not-Prime Counterparty Risk Ratings for Baa3 / Prime-3 (to investment grade).
This action by Moody's reflects BCP's improved credit profile, through a significant reducing the stock of problematic assets and enhanced domestic profitability metrics from weak levels, as well as Moody's expectation that the bank's financial fundamentals will continue to improve gradually in 2019.
End of announcement
Banco Comercial Português, S.A.
