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Research Update: Banco de Sabadell 'A/A-1' Ratings Affirmed On Limited Negative Impact Of Potential Merger; Off Watch; Outlook Negative Jul 10 Product Image

Research Update: Banco de Sabadell 'A/A-1' Ratings Affirmed On Limited Negative Impact Of Potential Merger; Off Watch; Outlook Negative Jul 10

  • Published: July 2010
  • Standard & Poors

Abstract
We think the impact on Spain-based Banco de Sabadell of its potential merger with Banco Guipuzcoano would likely be limited. We are affirming our 'A/A-1' long- and short-term counterparty credit ratings on Sabadell and removing them from CreditWatch with negative implications. The negative outlook reflects the possibility that Sabadell proves more vulnerable than currently expected to the difficult operating environment ahead. On July 26, 2010, Standard & Poor's Ratings Services affirmed the 'A/A-1' long- and short-term counterparty credit ratings on Spain-based Banco de Sabadell S.A. At the same time, we removed the ratings from CreditWatch, where they had been placed with negative implications on June 11, 2010. The outlook is negative. The affirmation reflects our view that the negative effect...

Companies mentioned in this report are: Banco de Sabadell S.A.,Sabadell International Capital Ltd.
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch

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Banco de Sabadell S.A.,Sabadell International Capital Ltd.

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