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Caja de Ahorros y Pensiones de Barcelona Jun 11 Product Image

Caja de Ahorros y Pensiones de Barcelona Jun 11

  • ID: 2059474
  • June 2011
  • Standard & Poors

Abstract
Robust Spanish retail-banking franchise, resulting from a successful growth strategy. Strong liquidity. More contained credit risk profile than for peers. Adequate overall capitalization. Pressured operating profitability in Spain's difficult economic and operating environment. Risks inherent in holding a large, strategic equity portfolio. Geographic concentration in Spain. Standard & Poor's Ratings Services placed the 'A+/A-1' long- and short-term counterparty credit ratings on Spain-based savings bank Caja de Ahorros y Pensiones de Barcelona (la Caixa) on CreditWatch with negative implications on Feb. 1, 2011. The CreditWatch placement followed la Caixa's announcement on Jan. 28, 2011, that it intends to undertake a significant corporate reorganization under which it will transfer all of its banking assets and most of its liabilities to its subsidiary...

Companies mentioned in this report are:
- Caja de Ahorros y Pensiones de Barcelona (Unsolicited Ratings)
- CaixaBank S.A.

Action: Review

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: Full Analysis

Note: Product cover images may vary from those shown

- Caja de Ahorros y Pensiones de Barcelona (Unsolicited Ratings)
- CaixaBank S.A.

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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