DBRS: Banco de Sabadell trend now positive

DBRS said it confirmed Banco de Sabadell SA’s ratings, including the long-term issuer rating of BBB (high), the short-term issuer rating of R-1 (low), the long term critical obligations rating (COR) of A, and the short-term COR of R-1 (low).

The trend on the long-term ratings and the short-term COR has been changed to positive, whereas the trend on the short-term ratings, except for the short-term COR, remain stable.

The bank’s intrinsic assessment remains at BBB (high), and the support assessment remains SA3.

“The confirmation of the ratings and the change of trend to positive reflects the group’s sound capitalisation and continued improvement in asset quality and core profitability in Spain,” DBRS said in a news release.

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