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Banco Popular Espanol Outlook Revised To Stable As Downward Pressure on Profitability Halted
Standard & Poors, Jan 2007
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
MADRID (Standard & Poor's) Jan. 8, 2007--Standard & Poor's Ratings Services said today that it has revised its outlook on Spain-based Banco Popular Espa-ol, S.A. to stable from negative. At the same time, the 'AA' long-term and 'A-1+' short-term counterparty credit ratings were affirmed. 'The outlook revision reflects the bank's halting of the declining trend in profitability exhibited over the past few years, sustaining returns at still-healthy, above-average levels, albeit lower than in the past,' said Standard & Poor's credit analyst Elena Iparraguirre. 'It is also based on our expectation that both profitability and core capitalization will be preserved in the future, as the bank benefits from a more conservative growth strategy than in previous years.' At current levels, the...
Companies mentioned in this report are: Banco Popular Espanol, S.A.
Action: Affirmed
Action: Outlook: Stable
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