Ratings On 15 Spanish Financial Institutions Lowered Following Sovereign Downgrade And BICRA Revision Feb 12

Standard & Poors, February 2012

Abstract
MADRID (Standard & Poor's) Feb. 13, 2012--Standard & Poor's Ratings Services today said it has lowered its ratings on 15 Spain-based financial institutions and revised the outlook to negative from stable on one financial institution. We also removed the ratings on 13 financial institutions from CreditWatch with negative implications, where we placed them on Dec. 8, 2011, and assigned negative outlooks to the ratings on 11 and a stable outlook to the ratings on two. We kept the ratings on two financial institutions on CreditWatch negative. Both CreditWatch placements reflect our view that pending acquisitions and their integration could have a negative impact on each entity's creditworthiness. The rating actions follow the lowering of the long- and short-term sovereign credit...

Action: Affirmed
Action: Downgraded
Action: Outlook: Negative
Action: Removed From CreditWatch

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 Bilbao Vizcaya Argentaria S.A.
- Banco Santander S.A.
- Santander UK PLC
- Banco Espanol de Credito S.A.
- Bankinter S.A.
- Barclays Bank 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.
- Bilbao Bizkaia Kutxa (BBK)
- Santander Consumer Finance S.A.
- CaixaBank S.A.
- Banco Financiero y de Ahorros S.A.
- Bankia S.A.
- Banca Civica S.A.
- Ibercaja Banco S.A.
- Kutxabank S.A.

Customers who bought this item also bought

• European Military Land Vehicles Market Assessment
• International Armoured and Mine-Protected Vehicle Market
• Language Schools (Spain)
• Aerospace and Defense Industry - Global Strategic Business Report
• The European University Libraries Directory 2013
• International Military and Civilian Unmanned Aerial Vehicle Survey
• The EU Defence Market: Industry and National Procurement
• eLEARNING - Global Strategic Business Report
• Defense Spending in Spain
• The Spain Defense Industry - Competitive Landscape and Strategic Insights to 2017: Market Profile