trending Market Intelligence /marketintelligence/en/news-insights/trending/BU4r4hEmyCw8oJrsIxj8qg2 content esgSubNav
In This List

Fitch downgrades Crown Agents Bank

Blog

Insight Weekly: Private equity slows; SPAC underwriters retreat; carbon capture boost

Podcast

Street Talk | Episode 98: Regulatory scrutiny having cooling effect on community bank M&A

Blog

Insight Weekly: M&A outlook; US community bank margins; green hydrogen players' EU expansion

Podcast

Street Talk | Episode 97: Recessionary fears still keeping bank investors on the sidelines


Fitch downgrades Crown Agents Bank

Fitch Ratings on May 6 downgraded 's long-termissuer default rating to BBB- from BBB and its short-term issuer default ratingto F3 from F2.

Crown Agents Bank's viability rating was downgraded to"bbb-" from "bbb". The bank's ratings were maintained onRating Watch Negative.

Fitch affirmed the bank's support rating at 5 and withdrewthe support rating floor of No Floor.

The ratings actions, which follow the completion of theacquisition of thebank by funds advised by Helios Investment Partners LLP, reflect the agency'sview that the bank's business model has generated weak profitability andcapital over a number of years. The Rating Watch Negative on the long-termissuer default rating primarily reflects the agency's view that changes to thebank's company profile could pressure its funding and liquidity profile.