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DBRS revises trend on Spain's Liberbank

DBRS on June 14 confirmed the BBB (low)/R-2 (middle) long- and short-term issuer ratings of Liberbank SA and revised the trend on the ratings to stable from negative.

The agency's intrinsic assessment for the Spanish lender is BBB (low), while its support assessment remains at SA3.

The actions took into account Liberbank's strengthened capital position after it completed its capital increase in November 2017 and improved risk profile following a material reduction in its nonperforming assets, DRBS said.

However, the agency noted that the ratings are still constrained by the bank's high, albeit decreasing, NPAs, which remain above those of its European peers, and the challenge to materially improve profitability in an environment with low interest rates.