Cecabank Rating

The current rating given to Cecabank by the three agencies that rate the company is given below.

Agency Short-term Long-term Outlook Last review
Moody's P-2 Baa1 Stable 19/03/2024
Fitch F3 BBB Stable 16/05/2023
S&P A2 BBB+ Stable 18/05/2023

Rating of the Kingdom of Spain

When establishing the credit rating for Spanish banks, rating agencies take into account the rating assigned to the Kingdom of Spain, which we include as a reference:

Agency Short-term Long-term Outlook Last review
Moody's P-2 Baa1 Stable 18/09/2020
Fitch F1 A- Stable 13/12/2019
S&P A-1 To Stable 18/03/2022

Rating scales

Rating scales for short-term debt used by these agencies are:

Moody's Fitch S&P
Press-1 F1 A-1
Press-2 F2 A-2
Press-3 F3 A-3

Standard & Poor's and Fitch put a plus sign (+) in the A-1 and F1 categories. Rating scales for long-term debt rating used by these agencies are:

Agency Moody's Fitch S&P
Investment Category Aaa/Aa/A/Baa AAA/AA/A/BBB AAA/AA/A/BBB
Speculative Category Ba/B/Caa/Ca/C BB/B/CCC/CC/C BB/B/CCC/CC/C

Moody's applies numerical modifiers 1, 2 and 3 to every general rating category from Aa to B. Modifier 1 indicates that the obligation is placed in the higher band of each general rating category; modifier 2 indicates the middle band and modifier 3 indicates the lower band of each general category. Standard & Poor's applies a plus sign (+) or a minus sign (-) in the AA to CCC categories to indicate the relative position within each category. Fitch applies the same signs from the AAA category onwards.

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