Caja de Ahorros y Pensiones de Barcelona Jun 11
- ID: 2059474
- June 2011
- Standard & Poors
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:
- Fundacion Bancaria Caja de Ahorros y Pensiones de Barcelona
- CaixaBank S.A.
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Research Type: Full Analysis