FITCH re-affirms BOV ratings
Fitch has reaffirmed Bank of Valletta’s long-term rating at investment grade BBB+ with a stable forward outlook. The bank’s Support Rating Floor (SRF) has been revised to BBB- following the recent one notch downgrade of Malta’s sovereign rating.
The SRF does not assess the credit quality of the bank but communicates Fitch’s view on the ability of the sovereign to support the Bank if this becomes necessary. All other ratings remained unaffected.
BOV Chairman John Cassar White expressed his satisfaction on the affirmation of the bank's long-term rating by the international agency Fitch. "The bank's core business remains robust with a strong balance sheet and capital position," said Mr Cassar White. "This will ensure that BOV continues to reinforce its commitment to support the Maltese economy."