Fitch lifts Credit Europe Bank

Fitch Ratings has upgraded Credit Europe Bank NV's (CEB) $150 million of subordinated tier 2 notes to B from B- and its issuer rating to BB- from B+.

“The upgrades reflect Fitch's improved assessment of CEB's operating environment due to reduced exposure to emerging markets, which together with tightened underwriting standards has contributed to a gradual de-risking of the bank's balance sheet. The rating actions also consider the bank's improved operating performance and capitalization,” the agency said in a press release.

The outlook is positive.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.