Report
ABANCA Corporacion Bancaria S.A. : Recommendations lowered to reduce on expected evolution of credit metrics and recent securities performance
Our previous positive credit opinion on ABANCA could no longer be sustained following the outbreak of the COVID-19 crisis and its economic fallout. Over the next 12-18 months, an improvement in ABANCA’s standalone credit fundamentals is not conceivable given the substantial challenges incurred by the crisis and the expected impacts on ABANCA’s (and peers’) credit metrics. In addition to standalone credit considerations, our previous opinion was also underpinned by the expected be...
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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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