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Article: Fitch axes Caixa Geral de Depositos to "negative" on sovereign outlook cut.
- Article from:
- ADP News Portugal
- Article date:
- September 4, 2009
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(ADPnews) - Sep 4, 2009 - Fitch lowered Friday the outlook on the long-term issuer default rating (IDR) of Portuguese state-owned bank Caixa Geral de Depositos (CGD) to "negative" from "stable" following a parallel revision on the sovereign.
Fitch reduced the outlook on Portugal to "negative" from "stable".
In addition to the state-controlled bank, the same action was applied also to its subsidiary Caixa-Banco de Investimento (Caixa-BI).
Also, Fitch reiterated the AA- ...