| Standard and Poor's raises its long-term credit rating on BCV from AA- to AA |
| 06.12.11 07:07 | |
|
Rating agency Standard & Poor's announced yesterday evening that it has raised BCV's long-term credit rating from AA- (positive) to AA (stable). Standard & Poor's also confirmed BCV's short-term rating of A-1+. Lausanne, Switzerland, 6 December 2011 - In upgrading the Bank's rating, Standard & Poor's emphasized BCV's strong capital base and solid earnings capacity. Standard & Poor's had already raised the outlook on BCV's previous AA- rating from stable to positive on 6 December 2010. Standard & Poor's raised the Bank's stand-alone credit profile by one notch, from A to A+. BCV's long-term credit rating incorporates two notches of uplift, reflecting its status as a cantonal bank with implicit support from the Canton of Vaud, which has a Standard & Poor’s credit rating of AA+. BCV is one of only a handful of banks not backed by a state guarantee to gain a credit rating of AA. BCV's management welcomes the announcement, which is particularly satisfying given the challenging environment faced by the banking sector as a whole. The upgrade recognizes the Bank’s ongoing efforts in recent years, both in terms of its strategy and operations. |
| < Prev | Next > |
|---|