- Language: English
- Published: September 2012
- Region: Spain
Research Update: Spain's Instituto de Credito Oficial 'AA-/A-1+' Ratings Affirmed In Line With Sovereign Rating; Outlook Negative Nov 11
- Published: November 2011
- Region: Spain
- Standard & Poors
We consider Spain's financial agency Instituto de Credito Oficial (ICO) to be a government-related entity under our criteria. We believe that ICO has an integral link with, and plays a critical role for the Spanish government. We therefore equalize our long-term rating and outlook on ICO with those on the sovereign. As a result, we are affirming our 'AA-/A-1+' ratings on ICO. The negative outlook on ICO mirrors that on Spain. On Nov. 24, 2011, Standard & Poor's Ratings Services affirmed its 'AA-/A-1+' long- and short-term issuer credit ratings on Spain's financial agency Instituto de Credito Oficial (ICO). The outlook is negative. We equalize our 'AA-' long-term rating on ICO with that on the Kingdom of Spain (AA-/Negative/A-1+). This reflects...
Companies mentioned in this report are: Instituto de Credito Oficial,Spain (Kingdom of)
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
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Instituto de Credito Oficial,Spain (Kingdom of)