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Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA)
Standard & Poors, March 2008
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
Dominant position in traditional markets Conservative management Healthy asset quality track record supported by a strong credit culture Sound financial profile characterized by solid solvency, strong liquidity and funding profile, and healthy core profitability Significant exposure to the real estate development segment Lower scale and diversification than that of large domestic universal competitors Relatively high contribution of equity-related income in the profit and loss account The ratings on Spain-based savings bank Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (iberCaja) reflect its dominant position in its home market, conservative management, healthy asset quality, and sound financial profile. They also factor in the significant exposure to the real estate development segment, lower scale and diversification than that...
Companies mentioned in this report are: Caja de Ahorros y Monte de Piedad de Zaragoza, Aragon y Rioja (IBERCAJA)
Action: Review
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