Paul Zacarias Gomes
paulo.gomes@economico.pt
agency S & notation, P today suspended the rating of the senior debt of BES, passing it from negative watch for the condition ” . developing “
In a statement placed on your site, the S & P defends suspension with the fact that currently follow the New Bank – where has transferred the majority of seniors obligations – and not to have information of sufficient quality to monitor the development of the “rating” of these instruments.
“The designation of ‘developing’ is used to unusual situations in which future events are so uncertain that the ‘rating’ not can be increased or reduced, “explains the credit rating agency.
The” rating “of senior debt issued by BES and transferred to the New Bank, whose last notation pointing to B-(the sixth level of speculative grade), is also suspended.
This “wait and see” the American agency takes into account the profile of this debt may improve thanks to the capital injection of € 4.9 billion from the Resolution Fund online. But S & P believes that new obligations or risks associated with the New Bank may arise or that the institution can not be immune to the risk of potential litigation
Still, believes that “this debt [senior] is. now separated from problematic exposures BES . “
The agency admits return to senior debt rating of Bank of New meanwhile have access to necessary information and that information is supplied on a continuous basis. If not it will no longer classify this financial instrument, reads the statement.
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