Ad hoc

Standard & Poor’s maintains «A–» rating for VP Bank and improves outlook to «Positive»

  ·   Ad hoc announcement pursuant to Art. 53 LR
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The rating agency Standard & Poor’s has maintained VP Bank’s «A–» rating, and the outlook is now positive.

Standard & Poor’s, the rating agency, has confirmed VP Bank’s impressive «A–» rating and improved the Group’s outlook from «Stable» to «Positive». The outlook had already been upgraded from «Negative» to «Stable» in July 2016, making the subsequent increase all the more significant, particularly given the fact that the EU directive on the reorganisation and winding-up of credit institutions and investment companies was incorporated into national law in Liechtenstein as of 1 January 2017. The directive largely rules out the possibility of system-relevant banks receiving any form of state support; however, as highlighted by Standard & Poor’s, the strong capital adequacy of VP Bank shows that the Group would have the capacity to absorb the impact of any potential risk to a great extent. The reconfirmed rating and improved outlook also take account of the operational progress made by VP Bank, its low levels of credit risk and very strong capitalisation.

VP Bank therefore continues to hold a rating of «A–/A-2». The highly positive rating and equally promising outlook are testament to VP Bank Group’s robust and successful business model. VP Bank is one of the few private banks in Liechtenstein and Switzerland to be rated by an international rating agency.

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