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ABANCA Corporacion Bancaria S.A. : Initiating coverage with a Positive Credit Opinion, ‘Buy’ recommendation on the Tier 2, ‘Neutral’ on the AT1
As expected, the abandon of the Liberbank (Ba2/BB+)-Unicaja (Baa3/BBB-) merger has opened the path for a renewed offer by ABANCA for Liberbank. Spanish press yesterday revealed that ABANCA’s owner has secured a financing to launch a new bid for Liberbank. In this lively context, we are initiating coverage on ABANCA. - Our Credit Opinion on ABANCA is Positive; this view is based on the improving trends in the bank’s standalone position (although there is now less upside potential in...
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Oddo BHF
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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