DBRS revises Liberbank view to negative

DBRS said it revised the trend to negative from stable and confirmed the ratings of Liberbank, SA, including the long-term issuer rating of BBB (low).

“The change of the trend to negative reflects our view that the scale of economic disruption resulting from the coronavirus (Covid-19) pandemic is now greater than our expectation when Liberbank was previously reviewed. DBRS Morningstar expects pressure on the bank’s risk profile, albeit partially mitigated by the Spanish government and the European authorities’ support measures in the short-term,” DBRS said in a press release.

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