Fitch Ratings raised the panorama (outlook) of Caixa Geral de Depósitos (CGD) from “stable” to “positive”, still remaining ratings of the public bank, the institution said in a statement to the Securities Market Commission (CMVM).
Thus, CGD reports that, this Thursday, “Fitch Ratings revised the outlook for Caixa Geral de Depósitos to positive, from stable, simultaneously affirming its IDR (Issuer default rating) Long Term in BBB and the Feasibility rating (VR) in bbb,” he said.
In the note, CGD detailed that “the review is based, according to Fitch’s assessment, on Caixa’s leadership in the domestic market, due to the moderate risk profile, good asset quality, strong increase in profitabilityfor the wide shock absorbers of capital and money based on the granularity of the deposits.”
According to the agency, cited by the bank, “Caixa’s credit profile reflects in particular the improvement in the commercial and financial prospects of Portuguese banks.”
CGD recalled that in September 2023, this agency “made a improvement of the classification from Caixa, up to a total of four increases in classification by the three agencies that evaluate it, over the past year.”
With this review, the classification da Caixa now has “panorama positive in two of the agencies,” he concluded.
Source: Observadora
