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S&P withdraws Banco Portugues de Investimento's ratings

S&P Global Ratings on Aug. 1 withdrew Banco Português de Investimento SA's BBB/A-2 long- and short-term issuer credit ratings and resolution counterparty ratings.

The outlook on the long-term issuer credit rating was stable at the time of withdrawal.

The withdrawal follows the completion of the bank's legal merger into parent Banco BPI SA, after which it ceased to exist as a separate legal entity, the rating agency noted.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings, a separately managed division of S&P Global. Descriptions in this news article were not prepared by S&P Global Ratings.