17 June 2015
- The agency improves the bank's rating to Baa2 with a stable outlook
- This new rating reflects the success of Cecabank's strategic reorientation. It is based on the provision of value-added services to the financial sector, especially in the field of securities services
- Moody’s acknowledges Cecabank's increased levels of capitalisation and liquidity
Moody's has raised Cecabank's long-term rating by four notches, placing it at Baa2 with a stable outlook. Similarly, the short-term rating has risen to Prime-2.
As explained in the agency's report, the rating change is a response to Cecabank's successful "strategic reorientation". Since 2011, the bank has specialised in independent depositary services and the provision of specialist services to financial institutions. Moody's highlights that the company has assumed the role of depositary for numerous financial institutions and has become one of the main providers of this service in Spain.
Lastly, Moody’s outlined other factors contributing to the rise in credit rating: satisfactory capitalisation in relation to risk profile, and a comfortable liquidity position.
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Further information: See all Cecabank's ratings
