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Banco Comercial Portugues

Capital/Financing Update • Mar 11, 2016

1913_iss_2016-03-11_c01bac88-0195-4f09-a6e5-551860825ff5.pdf

Capital/Financing Update

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BANCO POPULAR PORTUGAL, S.A. Head Office: Rua Ramalho Ortigão, 51, Lisboa Registered in the Lisbon Commercial Registry Office under the sole Commercial Registration and Taxpayer number: 502 607 084 Share Capital: 476.000.000 Euros

MATERIAL INFORMATION

Banco Popular Portugal, S.A. informs that in a press release dated 10 March 2016 DBRS announced the downgrade on the rating of its Covered Bonds from BBB (high) to BBB and removed the "under review with negative implications" status.

This action reflects a material update to the methodology DBRS uses to rate and monitor European covered bonds. The Methodology supersedes the previous "Rating European Covered Bonds" methodology published on 15 December 2015.

Lisbon, 11th March 2016