The rating agency Moody’s has assigned this Tuesday a note B3 to the senior debt and B2 to the deposits of the New Bank, both in levels of waste, and with the prospect of further cuts in the rating assigned .
The rating of the senior unsecured debt long term the New Bank shall be on the sixth level of the level considered “junk.”
ratings of Senior long-term debt and deposits are “under review” for downgrade , meaning that their ratings may come back down soon.
The debt of the bank led by Vítor Bento, guaranteed by the State, is valued at Ba1, the closest being considered investment level, and outlook stable, which means that the rating agency does not provide more cuts in the short term .
A little over a week, the Bank of Portugal took control of BES and announced the separation of the institution into two, the bad bank ( bad bank ) and the New Bank.
In the New Bank’s assets and liabilities were not considered problematic from former BES, getting this new bank a market capitalization of € 4.9 billion through the banking Resolution Fund.
As regards the bad bank , the board of the central bank banned the “lending and investing funds in any kind of assets, except to the extent that this application funds is necessary for the preservation and enhancement of its assets. “
On Monday, the New Bank reported that the Canadian rating agency DBRS maintained the grades assigned to debt instruments and long short term he had received, by transfer from the BES.
In a statement posted on the Commission’s Securities Market website, the New Bank said that the ratings were held, respectively from BB and R-4.
The prospect of monitoring these notes improved, changing from “under review with negative implications” to “under review in development.”
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