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Ratings On Five Portuguese Banks Placed On CreditWatch Negative Following CreditWatch Placement Of Republic of Portugal Dec 10 Product Image

Ratings On Five Portuguese Banks Placed On CreditWatch Negative Following CreditWatch Placement Of Republic of Portugal Dec 10

  • Published: December 2010
  • Region: Portugal
  • Standard & Poors

FEATURED COMPANIES

  • Banco BPI S.A.
  • Banco Espirito Santo S.A.
  • MORE

Abstract
OVERVIEW We have placed our 'A-' long-term and 'A-2' short-term sovereign credit ratings on the Republic of Portugal on CreditWatch with negative implications. Consequently, we are placing on CreditWatch with negative implications our ratings on all of the Portuguese banks we rate (including their debt and hybrid instruments, but not their covered bonds). The negative CreditWatch implications reflect the potential for a sovereign downgrade, and its direct and indirect impact on our view of the banks' creditworthiness. MADRID (Standard & Poor's) Dec. 3, 2010--Standard & Poor's Ratings Services said today that it has placed its long- and short-term counterparty credit ratings on all of the Portuguese banks it rates on CreditWatch with negative implications. This action equally applies to all...

Companies mentioned in this report are:
- Caixa Geral de Depositos S.A.
- Banco Espirito Santo S.A.
- Banco Comercial Portugues S.A.
- Banco BPI S.A.
- Banco Portugues de Investimento S.A.
- Banco Espirito Santo de Investimento S.A.
- Banco Santander Totta S.A.

Action: On CreditWatch:Negative

Standard and Poors RatingsXpress Credit Research READ MORE >

- Caixa Geral de Depositos S.A.
- Banco Espirito Santo S.A.
- Banco Comercial Portugues S.A.
- Banco BPI S.A.
- Banco Portugues de Investimento S.A.
- Banco Espirito Santo de Investimento S.A.
- Banco Santander Totta S.A.

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