Fitch lowers viability rating of four Portuguese banks

Rating agency Fitch has lowered the viability rating, one of its elements of risk assessment, of four Portuguese banks due to their capital needs. However, the overall rating of the BCP, BPI, Caixa Geral de Depósitos and Banif banks remained the same. Fitch said in a press release that the drop in viability rating reflects “the need of recapitalisation of the Portuguese banks to achieve the demanding capital standards and absorb negative impacts”.