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S&P confirms the Argenta Spaarbank’s A-/A-2 rating, but changes the rating outlook to negative from stable
24 April 2020
Following the COVID-19 pandemic and its consequent risks for banks, S&P took some rating actions.
S&P confirms the Argenta Spaarbank A-/A-2 rating, but changes the rating outlook to negative from stable.
This negative outlook entails a higher risk on rating downgrade in the upcoming 18-24 months.
The reason for this negative outlook is the impact of COVID-19 on the economy in general, putting pressure on Argenta Spaarbank’s profitability together with the current low interest rate environment.
Argenta nevertheless confirms its very strong capital and liquidity ratios that rank among the best in Europe.