Creditreform has set the rating of Belfius Bank SA/NV (Group) to not rated (n.r.). In addition, Creditreform has set the ratings of the bank capital and debt classes Additional Tier 1, Tier 2 and Preferred as well as Non-Preferred Senior Unsecured to not rated (n.r.).
Creditreform Rating has set the rating of all valid bank ratings and bank issues to watch negative due to the currently not assessable impact of the Corona Crisis. Not affected by this rating action are government related banks. We refer to the free available Monitoring Report for a more detailed explanation.
Creditreform Rating has affirmed the rating of Belfius Bank SA/NV (Group) at A-. The outlook is stable. In addition, Creditreform Rating has affirmed the rating of Additional Tier 1 capital at BB, the rating of Tier 2 capital at BB+ and the rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) at BBB+. Moreover, the rating of Non-Preferred Senior Unsecured debt was set to BBB.
Creditreform Rating AG has revised its rating methodology for the rating of "Bank Capital and Unsecured Debt Instruments". Henceforth, only the revised version of the rating methodology ("Version 2.0") will be applied. Moreover, all current ratings of bank capital and unsecured bank instruments will be reviewed as part of our current monitoring and receive therefore the rating supplement "watch". Our revised rating methodology can be found at www.creditreform-rating.de.
Creditreform Rating has set the rating of Belfius Bank SA/NV to A-, with stable outlook. Creditreform Rating has also determined the ratings of the debt classes as follows. The rating of Additional Tier 1 was set to BB, the rating of Tier 2 to BB+ and the rating of the Senior Unsecured to BBB+.