Please find attached the press release published in the CNMV website, confirming that, as of today, S&P Global Ratings has raised Banco Sabadell’s long-term credit rating to BBB from BBB- and its short-term rating to A-2 from A-3. The outlook is stable.
This rating upgrade is based on the improvement of Banco Sabadell’s credit quality in the context of a lower industry risk for the Spanish banking system mainly supported by the deleveraging of the latter as well as an improvement in investor confidence in the sector.