S&P Upgrades Agibank’s Credit Rating to ‘brAA’
With this new rating, the Bank reaches the ‘AA’ level across all three major rating agencies: S&P, Fitch, and Moody’s Local
Agibank, a bank operating a hybrid platform that combines the efficiency and scalability of digital channels with the proximity and personalized service of a physical presence, has had its credit rating upgraded by S&P Global Ratings from ‘brAA-’ to ‘brAA’, with stable outlook. With this new classification, the institution now holds an ‘AA’ level rating from all three major agencies that assess its credit risk: S&P, Fitch Ratings, and Moody’s Local. Agibank is a subsidiary company of Agi Inc. (NYSE: AGBK) (“Agi”).
In its report, the rating agency notes: “Our rating incorporates a positive holistic adjustment based on the bank’s strong operational performance and growth trajectory. We highlight the institution’s ability to expand its operations and its pursuit of revenue growth, factors that have increased its market relevance while the bank maintains its focus on its core business. Furthermore, we highlight its funding diversification strategy, evidenced by the use of Credit Rights Investment Funds (FIDCs) and the strengthening of relationships with institutional investors.”
