Link Securities | Moody’s Ratings has confirmed on Tuesday the “Baa1” rating on Banco Sabadell’s long-term deposits and the “Baa2” rating on the senior unsecured debt of its CAM Global Finance vehicle, Bolsamania.com reported yesterday. The outlook on both ratings remains “positive”.
At the same time, the agency has affirmed the bank’s ‘Ba1’ subordinated debt rating and ‘Baa3’ junior senior unsecured debt rating, as well as the bank’s ‘A3’ long-term Counterparty Risk Rating (CRR), A3(cr) long-term Counterparty Risk Assessment (CR Assessment) and ‘Baa3’ Baseline Credit Assessment (BCA). It has also affirmed all of the bank’s short-term ratings and assessments.
Moody’s reasons for this decision include the strength of Banco Sabadell’s credit profile, backed by “solid asset quality and profitability performance over 1H2024, balanced by relatively weak capital and leverage ratios”.
