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Banco de Credito Local de Espana, S.A. Placed on CreditWatch Negative Mar 00
Standard & Poors, March 2000
Abstract
PARIS (Standard & Poor's CreditWire) March 21, 2000--Standard & Poor's today placed its long- and short-term ratings on Banco de Cr-dito Local de Espa-a, S.A. (BCL) and its guaranteed related entity, BCL International Finance Ltd., on CreditWatch with negative implications. The CreditWatch placement follows the same action taken by Standard & Poor's on March 10, 2000 regarding Banco Bilbao Vizcaya Argentaria, S.A. (BBVA; double-'A'-minus/Watch Neg/'A-1'-plus), BCL's majority shareholder. The ratings on BCL continue to reflect its strong position in lending to local authorities, ownership structure, and extremely low-risk profile. These factors are partly offset, however, by low margins and a harsh competitive environment in the bank's core market. BCL remains 60%-owned by BBVA and 40%-owned by Dexia, the group created...
Companies mentioned in this report are: Banco de Credito Local de Espana S.A.,BCL International Finance Ltd.,Banco Bilbao Vizcaya Argentaria S.A.
Action: On CreditWatch:Negative
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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