Fitch Ratings placed Andorra Banc Agricol Reig’s (Andbank), Credit Andorra’s and Mora Banc Grup, SA’s Long- and Short-term Issuer Default Ratings (IDRs) of ‘A-‘ and ‘F2’, respectively, and their Viability Ratings (VRs) of ‘a-‘ on Rating Watch Negative (RWN), reports the agency.
The RWN reflects Fitch’s view that the operating environment and franchises of Andorra’s domestic banks need to be reassessed in light of potential spill-over effects from the resolution of Banca Privada d’Andorra
