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Caja de Ahorros y Pensiones de Barcelona Assigned 'A+'/'A-1' Ratings; Outlook Stable Sep 99
Standard & Poors, Sep 1999
Abstract
PARIS (Standard & Poor's CreditWire) Sept. 21, 1999--Standard & Poor's today assigned its single-'A'-plus long-term and 'A-1' short-term counterparty credit and certificate of deposit ratings to Caja de Ahorros y Pensiones de Barcelona ('la Caixa'). The outlook is stable. The ratings on 'la Caixa' reflect the group's overall sound financial performance and increasingly strong market positioning in Spain. Significant advances have been made in improving asset quality and profitability, while liquidity and capitalization remain healthy. Ranking as the third-largest banking group in Spain, 'la Caixa' has a dominant market share in its core region of Catalonia, one of Spain's wealthier autonomous communities. Given its primarily domestic orientation, the group is less global than some of its competitors; however, a nearly...
Companies mentioned in this report are: Caja de Ahorros y Pensiones de Barcelona
Action: New Rating
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.
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