The rating agency, on the other hand, sanctions the Bernese Cantonal Bank and Clientis.
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The rating agency Moody’s has revised its estimates for six Swiss banks. The ratings of the Bernese Cantonal Bank and Clientis have been lowered, those of Valiant, EFG International, EFG Bank and Banque Héritage have been confirmed. The revised estimates came as part of the new estimate of Switzerland’s economic profile, the agency said on Tuesday evening.
The macroeconomic profile of Switzerland has been reduced to “solid” with a “positive” perspective of “very solid” and a “negative” perspective. The agency has taken into account the high and growing level of private sector debt, both for businesses and for private households.
The Bern BC depository rating has been reduced to “Aa2” from “Aa1” and the unsecured secondary debt rating to “A2” from “A1”. The outlook remains “stable”.
For Clientis, the long-term deposit rating has been lowered to “A2” from “A1” with an unchanged “stable” outlook. The ratings of EFG Bank (“A1, stable”) and the parent company EFG International (“A3, stable”) as well as those of Valiant Bank (“A1, stable”) and Banque Héritage (“Baa1, stable ”) Have been confirmed.
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