Banco Comercial Português, S.A. informs about Deposit ratings upgrade by DBRS to investment grade
28 Março 2019 - 3:59PM
Banco Comercial Português, S.A. informs about Deposit ratings
upgrade by DBRS to investment grade
Banco Comercial Português, S.A. informs about Deposit
ratings upgrade by DBRS to investment grade
Banco Comercial Português, S.A. (“BCP”) informs
that DBRS Ratings GmbH (DBRS) upgraded by one notch the long-term
Deposits ratings. The long-term Deposits ratings is now positioned
one notch above BCP’s Intrinsic Assessment at BBB (low), the first
level of investment grade. Concurrently, DBRS also upgraded the
short-term Deposits ratings of BCP to R-2 (middle). The Trend
remains positive.
This action reflects the introduction in
Portugal of full depositor preference in bank insolvency and
resolution proceedings with the implementation of Portuguese Law
No. 23/2019 from March 14, 2019. This Law also introduces a new
class of debt, the Senior Non-Preferred Debt, that will rank below
preferential Senior debt, but above Subordinated Debt.
End of announcement
Banco Comercial Português, S.A.
- 2019 03 28 Upgrade da DBRS_EN
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