London, 12 July 2016 -- Moody's Investors Service has today upgraded to A3, from Baa1, on review with direction uncertain, the covered bonds issued by Caixa Economica Montepio Geral ("Montepio"; deposits B3, outlook Negative; adjusted Baseline Credit Assessment (BCA) caa1; Counterparty Risk (CR) Assessment B1(cr)). This rating action concludes the review of the ratings initiated on 8 June 2016 (see http://www.moodys.com/viewresearchdoc.aspx?docid=PR_347819).

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