Creditreform Rating has lowered the rating on CaixaBank S.A. (Group) to BBB from BBB+. In addition, Creditreform Rating has revised its outlook from watch negative to stable. Moreover, Creditreform Rating has also lowered the rating of Additional Tier 1 Capital to B+ from BB-, the rating of Tier 2 Capital to BB- from BB, the rating of Non-Preferred Senior Unsecured Debt to BB+ from BBB- and the rating of Preferred Senior Unsecured Debt to BBB- from BBB. For more details regarding the rating, we refer to our rating report on our homepage.
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 raised the rating on CaixaBank S.A. (Group) to BBB+ from BBB. The outlook is stable. Creditreform Rating has also raised the rating of Additional Tier 1 to BB- from B+, the rating of Tier 2 to BB from BB- and the rating of Preferred Senior Unsecured Debt (after reclassification from Senior Unsecured Debt) to BBB from BBB-. In addition, Creditreform Rating has assigned the Non-Preferred Senior Unsecured debt class the rating of BBB-.