Spanish Savings Bank la Caixa's ?2 Billion Debt Issue Rated 'AA+', Backed By Kingdom of Spain Guarantee Feb 09

Standard & Poors, February 2009

Abstract
MADRID (Standard & Poor's) Feb. 9, 2009--Standard & Poor's Ratings Services said today that it has assigned its 'AA+' long-term debt rating to Caja de Ahorros y Pensiones de Barcelona's (la Caixa; AA-/Negative/A-1+) new -2 billion guaranteed senior unsecured debt issue maturing on Feb. 3, 2012. The issue is guaranteed by the Kingdom of Spain (AA+/Stable/A-1+). The 'AA+' issue rating is in line with the long-term sovereign credit rating on the Kingdom of Spain, which has unconditionally and irrevocably guaranteed the timely payment of the issue by la Caixa. This is the first issue under the scheme launched on Nov. 24, 2008, by the Spanish government, which makes the guarantee available to any financial institution or group domiciled in Spain...

Companies mentioned in this report are: Caja de Ahorros y Pensiones de Barcelona,Spain (Kingdom of)
Action: New Rating

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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.

Caja de Ahorros y Pensiones de Barcelona,Spain (Kingdom of)

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