ABANCA Corporacion Bancaria S.A. : Winter is ending; Credit opinion raised to Stable, recommendations to Neutral

ABANCA has navigated the challenging environment since the outbreak of the pandemic relatively unscathed, and better than we had expected. Admittedly, this has been the case for most peers, and hits from the crisis have been well contained by extensive policy measures. Asset quality deterioration has been delayed but should not be excessive, under current assumptions and not alter ABANCA’s current credit profile. Our Credit Opinion reflects the assessment of the trend of the issu...