Fitch Ratings yesterday affirmed Bank of Valletta’s ratings and stable outlook, a move welcomed by the bank as yet another confirmation of the strength and resilience of the BOV Group.

Bank of Valletta CEO Charles Borg said the report assumed even greater significance at a time when many large financial institutions and EU sovereigns had been hit by downgrades. He said it underlined the bank’s strong capital base and liquidity position as well as its ability to sustain adequate profitability despite the challenges resulting from falling financial markets.

Fitch rated BOV’s long-term and short-term issuer default ratings at BBB+ and F2 res­pectively and its viability rating at bbb+.

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