Informe_Anual_Cecabank_2016_ENG

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Ratings
The ratings awarded to Cecabank as at 31 December 2016 by international
agencies Fitch Ratings, Moody’s, and Standard & Poor ’s, are as follows:
The strategic reorientation and subsequent success of its implementation were
key factors in the revision of different agencies’ credit ratings, with the orga-
nisation currently holding 3 Investment Grade ratings. Generally speaking,
when qualifying our company, agencies highlight the success of the following
as positives:
Comfortable liquidity position
The strategic reorientation of the company
The conservative risk profile
Being a service provider to other companies
Increase in recurring income
Leading position in Securities Services
Robust capitalisation
RATING
2012 2013 2016
Ba1 Ba3 Baa2 Moody’s
BBB- BBB- BBB- Fitch
BB+ BB+ BBB S&P
Cecabank 2016 Annual Report Page 87
06 FINANCIAL INFORMATION
6.1
6.2