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Ratings Affirmed On La Caixa's Spanish Mortgage Covered Bonds And Transferred To CaixaBank Jul 11 Product Image

Ratings Affirmed On La Caixa's Spanish Mortgage Covered Bonds And Transferred To CaixaBank Jul 11

  • Published: July 2011
  • Region: Spain
  • Standard & Poors

Abstract
OVERVIEW On June 30, 2011, la Caixa savings bank legally completed the transfer of all its banking assets and most of its liabilities to its subsidiary CaixaBank S.A. On July 1, we assigned 'A+/A-1' long- and short-term counterparty credit ratings to CaixaBank, the new main operating entity resulting from the reorganization of the la Caixa group. We have affirmed our 'AAA' ratings on the mortgage covered bonds originally issued by la Caixa, all of which have now been transferred from la Caixa to CaixaBank. The outlook is stable. FRANKFURT (Standard & Poor's) July 1, 2011--Standard & Poor's Ratings Services today affirmed its 'AAA' credit ratings on Caja de Ahorros y Pensiones de Barcelona's (la Caixa) Spanish mortgage covered bonds ("cédulas...

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

Action: Affirmed

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 READ MORE >

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

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