S&P maintains Sabadell rating (BBB-), improves outlook to positive vs stable

SabadellS&P maintains rating for Sabadell at BBB-

Renta 4 | S&P has maintained Sabadell’s long-term debt rating at BBB-, while improving the outlook to “positive” from “stable”.

Valuation: Positive news. This improvement of the outlook opens the door to a possible improvement of the rating in a time period of 12-24 months if it increases the size of its buffer of subordinated instruments. And that it offers a clear vision on its Additional Loss-Absorbing Capacity (ALAC) cushion being sustainable at over 350 bps. OVERWEIGHT T.P. 1,01 euros/share

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