Moody's rates Montepio notes B1

Moody's Investors Service said it assigned a B1 rating to the long-term senior unsecured debt to be issued by Caixa Economica Montepio Geral, SA (Banco Montepio).

“The B1 rating assigned to the senior unsecured debt reflects banco Montepio's baseline credit assessment (BCA) and adjusted BCA of b1; no uplift from Moody's advanced loss given failure (LGF) analysis, which incorporates the relative loss severity for this liability class; and Moody's assumption of a low probability of government support, resulting in no further rating uplift,” the agency said in a statement.

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.