Ratings On 15 Spanish Banks Placed On CreditWatch Negative Following Similar Rating Action On Spain Dec 11
Standard & Poors, December 2011
Abstract
Standard & Poor's placed its 'AA-/A-1+' long- and short-term sovereign ratings on the Kingdom of Spain on CreditWatch with negative implications on Dec. 5, 2011. Consequently, we are placing the long-term counterparty credit ratings on 12 Spanish financial institutions on CreditWatch with negative implications. We are also placing the short-term ratings on these institutions, except Banco Bilbao Vizcaya Argentaria S.A., on CreditWatch negative. The long-term ratings on three other Spanish financial institutions remain on CreditWatch negative, and we are placing the short-term ratings on these three institutions on CreditWatch negative. The negative CreditWatch placement reflects the possibility of a downgrade of Spain by up to two notches and its direct or indirect impact on our ratings on Spanish financial institutions....
Companies mentioned in this report are:
- Banco Santander S.A.
- BBVA USA Bancshares Inc.
- Santander UK PLC
- Banco Espanol de Credito S.A.
- Bankinter S.A.
- Santander Holdings U.S.A Inc.
- Caja de Ahorros y Pensiones de Barcelona (Unsolicited Ratings)
- Banco de Sabadell S.A.
- Banco Popular Espanol S.A.
- Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastian (Kutxa)
- Sovereign Bank, N.A.
- Banco Bilbao Vizcaya Argentaria S.A.
- Confederacion Espanola de Cajas de Ahorros
- Bilbao Bizkaia Kutxa (BBK)
- Santander Consumer Finance S.A.
- CaixaBank S.A.
- Banco Financiero y de Ahorros S.A.
- Bankia S.A.
- Ibercaja Banco 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.
- Banco Santander S.A.
- BBVA USA Bancshares Inc.
- Santander UK PLC
- Banco Espanol de Credito S.A.
- Bankinter S.A.
- Santander Holdings U.S.A Inc.
- Caja de Ahorros y Pensiones de Barcelona (Unsolicited Ratings)
- Banco de Sabadell S.A.
- Banco Popular Espanol S.A.
- Caja de Ahorros y Monte de Piedad de Gipuzkoa y San Sebastian (Kutxa)
- Sovereign Bank, N.A.
- Banco Bilbao Vizcaya Argentaria S.A.
- Confederacion Espanola de Cajas de Ahorros
- Bilbao Bizkaia Kutxa (BBK)
- Santander Consumer Finance S.A.
- CaixaBank S.A.
- Banco Financiero y de Ahorros S.A.
- Bankia S.A.
- Ibercaja Banco S.A.
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