- The agency has raised the bank’s rating to Baa2 with a stable outlook.
- This new rating reflects the success of Cecabank’s strategic reorientation, based on providing value added services to the financial sector, particularly in the securities services area.
- Moody’s acknowledges Cecabank’s high levels of capitalisation and liquidity.
Moody’s has upgraded Cecabank’s long-term rating by four categories, situating it at Baa2 with a stable outlook. The short-term rating has also been upgraded to Prime-2.
As the agency explains in its report, this modification is partly in response to Cecabank’s successful «strategic reorientation». Since 2011 Cecabank has specialised as an independent depositary and in providing specialised services to financial institutions. Moody’s highlights that Cecabank has taken on the depositary function for a large number of financial institutions, becoming one of Spain’s leading providers of depositary services.
Moody’s concludes by outlining the other factors underlying this upgrade, including its satisfactory capitalisation relative to its risk profile, and its comfortable liquidity position.
More information: See all Cecabank’s ratings
