Banco Espirito Santo's 'A+' long-term IDR affirmed with stable outlook - Fitch |
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Published
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Tue, 16 Oct 2007 18:07
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MUMBAI (Thomson Financial) - Fitch Ratings said it has affirmed Banco Espirito Santo SA's (BES) 'A+' long-term issuer default ratings with a stable outlook, and short-term IDR at 'F1'.The ratings reflect the Portugal bank's strong domestic franchise, healthy asset quality, sound capital ratios and good profitability, the ratings agency said.The stable outlook reflects Fitch's view that BES should continue to report sound performance despite the competitive operating environment in Portugal.However, Fitch said an upward ratings potential for the IDRs is limited by the bank's size and growth prospects in the Portuguese market.TFN.newsdesk@thomson.compvi/ypv/ranCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Washington Federal IDRs affirmed at 'A-/F1' on low operating costs - Fitch 