27.7 C
Bucharest
August 8, 2022
BUSINESSBUSINESSCOMPANIESECONOMYFINANCE&BANKING

Moody’s upgrades to A2 the rating of the covered bonds issued by Alpha Bank Romania

Rating agency Moody’s Investors Service upgraded by one notch, to A2 from A3, the rating of the covered bonds issued by Alpha Bank Romania.

The A2 rating reflects, among others, the high quality of Alpha Bank Romania’s mortgage portfolio, strong Romanian legal framework for covered bonds as well as the bank’s resilience and stability. The upgrade of the covered bonds rating follows the upgrade of the long-term deposit rating of Alpha Bank Romania.

The covered bond issuance launched in 2019 by Alpha Bank Romania on the local market is the first of its kind in Romania and is listed on the Luxembourg Stock Exchange and the Bucharest Stock Exchange.

By launching in 2019 the Mortgage Covered Bond Programme, Alpha Bank Romania has opened a new chapter in the development of the local financial and capital market. Mortgage bonds are a financing solution often found on international financial markets, through which the issuing bank aims at diversifying its financing sources, as well as at reducing their average cost, attracting new funds for the development and expansion of its activities.

 

About Alpha Bank Romania

 

Alpha Bank Romania is a member of Alpha Bank Group, one of the largest banking and financial groups in Greece, founded in 1879 by J.F. Costopoulos. The international activities of the Group are extended, in addition to Romania, to the United Kingdom, Luxemburg and Cyprus.

Alpha Bank Romania is a financial institution ranked among the top 10 banks in the country, with universal banking operations. A systemic bank, with a national presence of over 27 years, Alpha Bank Romania offers a wide range of modern services and products for individuals, as well as for SMEs and the corporate segment.

Alpha Bank Romania is one of the financial institutions that innovated the banking sector in Romania, being the first bank to launch on the local market an application that transforms an Android mobile device into a POS terminal. It was also the first bank that issued covered bonds in Romania after having introduced on the market the first housing loan.

 

Related posts

BRICS nations meet to cement relationships

Nine O' Clock

Banks, forced to reduce early reimbursement commission

Test

EUR 420,000 from the EU to support Oltenia-based companies

Test