Ratings On Banca Civica's Spanish Mortgage Covered Bonds Placed On CreditWatch Negative Following Rating Action On Bank Feb 12
- ID: 2051527
- February 2012
- Region: Spain
- Standard & Poors
OVERVIEW On Jan. 31, 2012, we placed on CreditWatch negative our long- and short-term counterparty credit ratings on Banca C-vica. Under our rating approach, Banca C-vica's mortgage covered bond ratings now benefit from the maximum elevation possible above our long-term rating on the issuer. Therefore, any further rating action on the issuer would directly affect the ratings on these covered bonds, all else being equal. We have subsequently placed on CreditWatch negative our long-term ratings on Banca C-vica's mortgage covered bonds. We aim to resolve the CreditWatch placement of the ratings on these covered bonds after we have resolved the CreditWatch placement of our ratings on Banca C-vica. MADRID (Standard & Poor's) Feb. 7, 2012--Standard & Poor's Ratings Services today...
Companies mentioned in this report are: Banca Civica S.A.
Action: On CreditWatch:Negative
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