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S&P rating upgraded to ‘A’ with Stable Outlook
25 October 2022
S&P upgrades the Argenta Spaarbank rating to ‘A/A-1’ from ‘A-/A-2’.
Argenta Spaarbank’s preferred resolution strategy is Sale of Business. As S&P does no longer see this preferred strategy riskier to senior creditors relative to an open bank bail-in, the previous cap on the bank’s additional loss-absorbing capacity (ALAC) is removed and is reflected in two additional notches from the stand-alone credit profile, instead of the previous one notch.
The stable outlook reflects the expectation that the bank will maintain its strong capital and good financial performance, despite the economic slowdown in Belgium and The Netherlands, where the bank largely operates.
For the full press release, please click below