The CAPE - Centre des Arts Pluriels Ettelbrück is hosting the third edition of its A CAPE'lla Festival. Delano has 2 festival passes to give away.
The A CAPE'lla festival showcases the art of a capp...
Moody’s affirmed Luxembourg national savings bank BCEE’s Aa2 long-term deposit rating and Aa3 senior unsecured debt rating, with a stable outlook.
In a rating issued on 7 December, the credit agency affirmed BCEE’s baseline credit assessment of A2 and its long-term and short-term counter party risk ratings of Aa1 and Prime-1, respectively, and long-term and short-term counterparty risk assessment of Aa1 (cr) and Prime-1 (cr), respectively. It also affirmed the bank’s subordinated debt rating of A3.
The subsequent report credited BCEE’s risk profile as being driven by its focus on retail and commercial banking activities and a resilient economy.
It wrote, however, that the bank was sensitive to a severe contraction in the Luxembourg real estate market.
“Despite an acceleration of mortgage loan origination in Luxembourg and rising house prices over the years, Moody’s considers that the risk of a downturn is still remote owing to its forecast of strong economic growth (3.7% in 2018 and 3% in 2019-2020).