Fitch Ratings maintains its 'A-' crèdit rating for the Crèdit Andorrà Group

Crèdit Centre

The agency highlights the Group's good performance in private banking, its responsible management, outstanding profitability and the high levels of capitalisation and liquidity enjoyed by the Bank

The international agency Fitch Ratings has maintained Crèdit Andorrà's rating at long-term 'A-' and short-term 'F2’. Fitch has therefore confirmed the last rating given to Crèdit Andorrà, a notable achievement given the financial situation both in Andorra and internationally. Fitch's assessment underlines the Bank's strength and its great solvency and liquidity.

In its assessment, the agency has stressed that “the bank's rating reflects its solid performance in private banking, sound management, healthy profitability, strong capitalisation and ample liquidity”.

These ratings being maintained is particularly significant given the current situation regarding the national and international finance industry, reflecting Crèdit Andorrà's good performance over a considerable period of time. Nevertheless, although it has affirmed these ratings Fitch has warned that they may be revised depending on developments in Andorra's banking situation, pending an analysis of changes in its financial regulations and the resolution of the current situation.

The Crèdit Andorrà Group is the outright leader among Andorra's financial institutions in terms of adjusted equity, totalling 624 million euros and ensuring the Group's sustained growth in the future. Its solvency and liquidity ratios are 20.26% and 73.82% respectively, well above the legal minimums required (10% and 40%) and much higher than the average for European banks.

Additional information
Long-term credit risk:
(A) indicates low expectations of credit risk in the long term. A strong capacity to meet
commitments. Short-term credit risk:
(F2) Good inherent capacity to meet financial obligations.
The symbols "+" and "-" indicate a position relative to this rating.

On the Crèdit Andorrà Group

Crèdit Andorrà is Andorra's benchmark financial group with a managed business volume of 16,547 million euro at year-end 2014.
The group offers a complete range of banking services in Andorra and private banking and wealth management services internationally, complemented with other lines of business such as products and consultancy in the insurance field. It's currently present in Andorra, Spain, Luxembourg, Switzerland, the United States, Mexico, Panama, Paraguay, Peru and Chile.