- Language: English
- Published: September 2012
- Region: Spain
Confederacion Espanola de Cajas de Ahorros (CECA) Outlook To Negative; Ratings Affirmed Dec 08
- Published: December 2008
- Standard & Poors
MADRID (Standard & Poor's) Dec. 1, 2008--Standard & Poor's Ratings Services said today that it revised its outlook on Spanish Confederaci-n Espa-ola de Cajas de Ahorros (CECA) to negative from stable. At the same time, we affirmed the 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on CECA. "The outlook revision reflects rating pressures from the weakening creditworthiness of the Spanish savings bank sector as a result of the sharp deterioration in the economic and operating environment in Spain," said Standard & Poor's credit analyst Jesus Martinez. The ratings are supported by CECA's key role as the representative and operational arm of Spain's savings banks--which own, control, and govern the entity--as well as its moderate credit risk appetite and strong...
Companies mentioned in this report are: Confederacion Espanola de Cajas de Ahorros
Action: Outlook: Negative
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Confederacion Espanola de Cajas de Ahorros