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Banco de Sabadell 'A/A-1' Ratings Affirmed On Limited Negative Impact Of Potential Merger; Off Watch; Outlook Negative Jul 10
Standard & Poors, July 2010
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. MADRID (Standard & Poor's) July 26, 2010--Standard & Poor's Ratings Services said today that it has 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...
Companies mentioned in this report are: Banco de Sabadell S.A.
Action: Affirmed
Action: Outlook: Negative
Action: Removed From CreditWatch
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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