Banco BPI, S.A. has announced that Fitch Ratings has reaffirmed its long-term rating at A-, with an improved outlook to positive, and upgraded its short-term rating from F2 to F1. This follows a similar action on the ratings of its shareholder CaixaBank, announced on October 7, as noted by the Comissão do Mercado de Valores Mobiliários (CMVM).
The bank also stated that the ratings for Banco BPI’s deposits and senior debt have been reaffirmed at A for long-term and F1 for short-term.
Credit ratings, such as those provided by financial rating agencies, play a crucial role in determining the financing conditions for countries, companies, and banks, as they assess credit risk.
On the Fitch Ratings scale, an A grade signifies “high quality”.
