Fitch raises BPI’s rating from ‘BBB’ to ‘BBB+’.

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The financial rating agency Fitch raised today BPI’s rating from ‘BBB’ to ‘BBB+’, with a stable outlook, it was communicated to the market today.

In a statement sent to the Securities Market Commission (CMVM), the bank led by João Pedro Oliveira e Costa details that, as a result of this improvement, the agency also raised the ratings of its long-term senior preferred debt and long-term deposits from ‘BBB+’ to ‘A-‘.

“This decision reflects Fitch Ratings’ view that the integration of Banco BPI into CaixaBank Group’s resolution perimeter (single-point-of-entry) and the sustained strengthening of internal debt buffers result in a higher probability of available support for Banco BPI,” it can be read,

Fitch has also reaffirmed BPI’s viability rating of ‘bbb-‘.

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