Fitch Raises CaixaBank Rating on Improved Risk Profile, 'More Stable' Earnings Generation
Fitch Ratings upgraded its long-term issuer default rating on CaixaBank (CABK.MC) to A+ from A, with a stable outlook, according to a Wednesday release. The rating agency attributed the uplift to the Spanish lender's improved risk profile on the back of lower impaired loans and prudent underwriting, reducing the group's financial sensitivity to potential downturns. Meanwhile, structural improvements in Spanish business opportunities have enabled stronger profitability across the bank's segments, resulting in a "more stable" earnings generation. Fitch also highlighted CaixaBank's growing deposit base and robust liquidity, with strong access to capital markets.
Fitch Ratings upgraded its long-term issuer default rating on CaixaBank (CABK.MC) to A+ from A, with a stable outlook, according to a Wednesday release.
The rating agency attributed the uplift to the Spanish lender's improved risk profile on the back of lower impaired loans and prudent underwriting, reducing the group's financial sensitivity to potential downturns.
Meanwhile, structural improvements in Spanish business opportunities have enabled stronger profitability across the bank's segments, resulting in a "more stable" earnings generation.
Fitch also highlighted CaixaBank's growing deposit base and robust liquidity, with strong access to capital markets.