Credit ratings are an opinion of the Entity's creditworthiness and relative capacity to meet its financial obligations. 

Hereunder are presented the ratings assigned to CaixaBank, S.A. by the rating agencies Moody’s Investors Service España, S.A. (Moody’s), S&P Global Ratings Europe Limited (S&P Global), Fitch Ratings Ireland Limited (Fitch) and DBRS Ratings GmbH (DBRS). All these agencies are registered with the European Securities and Markets Authority (ESMA) and regulated by European Union legislation (Regulation (UE) No 462/2013 of the European Parliament).

Credit ratings can be revised, cancelled or withdrawn at any time by the rating agencies. The aforementioned credit ratings do not constitute a recommendation to buy, hold, or sell bonds issued by the Company.


The long term debt rating categories used by the aforementioned agencies are as follows:

Moody's assigns the numerical modifiers ‘1’, ‘2’ and ‘3’ to each generic ratings category from Aa to Caa. The modifier ‘1’ indicates that the obligation ranks in the higher end of its generic rating category; the modifier ‘2’ indicates a mid-range ranking and the modifier ‘3’ indicates a ranking in the lower end of its rating category.

S&P Global and Fitch apply the modifiers plus (+) or minus (-) in categories AA to CCC to indicate the relative standing within each rating category; while DBRS applies the modifiers (high) and (low).

The short term debt rating categories used by these agencies are as follows:

S&P Global and Fitch apply the plus modifier (+) within the categories A-1 and F1. DBRS applies the modifiers (high), (middle) and (low) to categories R-1 and R-2.

The ratings may be revised, suspended or withdrawn by the rating agency at any time. These ratings do not constitute a recommendation to buy or sell.

The ratings may be revised, suspended or withdrawn by the rating agency at any time. These ratings do not constitute a recommendation to buy or sell.