Alpha Bank is returning to investment grade after 14 years after Moody’s upgraded its credit rating.
Bank of America today announced that it is raising Alpha Bank’s core credit rating (BCA) by one notch (from Ba3 to Ba2). On the side rises by two degrees ratings of long-term and short-term deposits, long-term debt and subordinated debt
These improvements make Alpha Bank’s senior secured debt eligible from a wider range of investors, further diversifying its funding base.
In justifying this move, Moody’s cites recurring profitability Alfa Bank, funds strengthening and improving asset quality its strong funding profile as well as the outlook for the Greek economy.
The upgrades confirm the Bank’s potential to achieve higher sustainable profitability while improving the flexibility of its balance sheet. Moody’s also took into account Alpha Bank’s improving asset quality and recurring earnings profile, low cost base, expected benefits recently. strategic partnership with UniCredit and substantial and expanding capital buffers.
The American Chamber predicts a further improvement of the bank’s foundations, which will pave the way for further modernization.