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Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA)
Standard & Poors, April 2002
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
Abstract
The ratings on Caja de Ahorros y Monte de Piedad de Zaragoza, Arag-n y Rioja (iberCaja) are underpinned by the Spanish savings bank's adequate financial and low-risk business profiles, as well as its dominant position in its traditional markets of Arag-n, La Rioja, and Guadalajara. As iberCaja remains concentrated in these regions in spite of its organic expansion strategy, the ratings also take into account iberCaja's smaller overall market share and lower geographical and business diversification than those of larger universal domestic competitors. The savings bank has maintained a solid financial profile in spite of its strong expansion, which has not negatively impacted its good asset quality and healthy liquidity profile, straining its solvency only moderately. A low-risk profile, stemming...
Companies mentioned in this report are: Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA),Ibercaja Finance Ltd.,Ibercaja Capital Ltd.
Action: Review
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