Moody’s affirms Banque et Caisse d'Epargne de l'Etat

Moody's Investors Service said it affirmed the Aa2 long-term deposit rating of Banque et Caisse d'Epargne de l'Etat, its long-term senior unsecured debt rating of Aa3 and its short-term deposit and program ratings of Prime-1.

The agency also affirmed the baseline credit assessment and adjusted baseline credit assessment of a2, as well as its long-term and short-term counterparty risk ratings of Aa1 and Prime-1, respectively, and long-term and short-term counterparty risk assessment of Aa1(cr) and Prime-1(cr), respectively.

Finally, the subordinated debt rating of A3 was also affirmed.

The outlook remains stable.

“BCEE's long-term deposit and senior unsecured debt ratings of Aa2 and Aa3, respectively, reflect primarily the bank's BCA of a2, based on its leading domestic market position, low risk profile, very strong capitalization and solid funding profile, supported by its strong deposit base,” the agency said in a news release.

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