Fitch Ratings on Sept. 27 placed CaixaBank SA's BBB+ long-term senior preferred debt rating and BBB+(dcr) derivative counterparty rating on Rating Watch Positive, reflecting the agency's assessment that the bank's qualifying junior debt buffer and senior nonpreferred debt are approaching its estimate of a recapitalization amount.
The agency affirmed the Spanish lender's BBB+/F2 long- and short-term issuer default ratings, "bbb+" viability rating, 5 support rating, No Floor support rating floor and F2 short-term senior preferred debt rating. The outlook on the bank's long-term issuer default rating is stable.
The ratings reflect an improvement in the bank's asset quality and its leading position in retail banking, insurance and asset management in Spain, among other factors, the agency said.
