The Government of Andorra submits a bill to the Parliament providing for the financing of court expenses of the State Agency for the Control of Banking Organizations (AREB). The bill proposes to ratify the monetary fund in the amount of 2 982 150.46 euros allocated to AREB to cover costs associated with the scandal of …
MoreFitch Ratings has affirmed Andorra’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Positive. A full list of rating actions is at the end of this rating action commentary.
KEY RATING DRIVERS
Andorra’s IDRs reflect the following rating drivers:
The country’s wealth, relatively strong public finances and political stability are balanced by the economy’s small …
MoreLogo of the Andorran Morabank, avenue Meritxell, 2017
MoreS&P Global Ratings affirmed its ‘BBB-/A-3’ long- and short-term foreign and local currency sovereign credit ratings on the Principality of Andorra. The outlook remains stable.
According to S&P, Andorra’s government continues to pursue its reform agenda, the country’s economy is gradually recovering, government finances remain under control, and the financial sector has stabilized.
As a result, S&P …
MoreCEO of a new Andorran bank Vallbanc Christoph Lieber spoke to all-andorra.com about future of private banking in Andorra and bank’s strategic plans:
Interview: Alla Sarina
Before you were appointed CEO of Vall Banc and moved to Andorra, you worked in Germany and Switzerland. What do you see as the greatest difference between the banking systems in these …
MoreFitch Ratings has affirmed Andorra’s Long-Term Issuer Default Rating (IDR) at ‘BBB’. The Outlook is Stable. Fitch has also affirmed the Short- Term IDR at ‘F3’ and Country Ceiling at ‘A-‘, reports agency.
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The Andorran Council of Ministers approved the new simplified rules for the provision of statistical data on banking and financial transactions of legal entities of the principality to the European Central Bank.
The Bank is the supervising authority of the Andorran financial system. The requirement was put forward within the framework of the Monetary agreement between …
MoreFitch Ratings has affirmed the Long-Term Issuer Default Ratings (IDR) of Credit Andorra, Andorra Banc Agricol Reig (Andbank) and Mora Banc Grup, SA (MoraBanc) at ‘BBB’, ‘BBB’ and ‘BBB-‘ respectively; the Outlooks are Stable on all of the IDRs. A full list of rating actions can be found at the end of this rating action …
MoreAn EU deal with Andorra, which will make it harder for EU citizens to hide cash from the tax man in bank accounts there, was endorsed by Parliament in a vote on Wednesday. Under the deal, the EU and Andorra will automatically exchange information on the bank accounts of each other’s residents, starting in 2018 …
MoreFitch Ratings has downgraded Banca Privada d’Andorra’s (BPA) Long-and Short-term Issuer Default Ratings (IDRs) to ‘Default’ (D) from ‘Restricted Default’ as its resolution is now underway, reports the agency.
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