Crisis with one of the banks of Andorra – Banca Privada d’Andorra – negatively affected ratings of other banks of the country

rating-downgradeCrisis of one of banks of Andorra – Banca Privada d’Andorra – negatively affected ratings of other banks of the country. In particular, the Fitch Rating agency lowered a long-term rating to Crèdit Andorrà bank from A to BBB (three positions) and short-term from F2 to F3 (from reliability level above average to the average level of reliability).

The long-term rating to MoraBanc represents a downgrade with A to BBB (decrease at once on four steps), short-term – from F2 to F3, by analogy with Crèdit Andorrà. As for Andbank bank, decrease in a long-term rating took place from A to BBB (four positions), the short-term rating also moved down on one step, from F2 to F3.

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