S&P Global Ratings has upgraded CaixaBank's long-term debt rating from ‘BBB+’ to ‘A-’ and has maintained a ‘stable’ outlook for the bank, according to CaixaBank’s communication to the Spanish National Securities Market Regulator (CNMV).
As a result, CaixaBank now holds an ‘A’ long-term debt rating from two of the four main rating agencies, after receiving this same rating from DBRS.
Fitch rates CaixaBank's debt ‘BBB+’, with Moody’s has a ‘Baa1’.
S&P has also upgraded the Senior-preferred debt rating to ‘A-’ from ‘BBB+’, as well as the long-term and short-term counterparty rating to ‘A/A-1’ from ‘A-/A-2’, respectively.
This rating review has been conducted after the credit rating agency updated its methodology. The remainder of CaixaBank’s ratings provided by S&P remain unchanged.