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S&P confirms the Argenta Spaarbank rating at A-/A-2 and changes the outlook from ‘negative’ to 'stable'
26 October 2020
S&P confirms Argenta Spaarbank's rating of A-/A-2 and increases the rating outlook from negative to stable.
The reason for the stable outlook is the issue by Argenta of a senior non-preferred issue on 13 October 2020. After all, this issue forms an additional buffer to protect Argenta's ordinary creditors (including savers) and supports Argenta's creditworthiness, even if this would come under pressure in the coming years due to an economic recession as a result of the current corona crisis.
This increase of the rating outlook reconfirms once again Argenta’s very strong capital and liquidity ratios, which are among the best in Europe.