S&P Corrects By Lowering Issue Ratings On Preferred Stock Guaranteed By Portugal's Caixa Geral de Depositos To 'C' Feb 13
- ID: 2417801
- February 2013
- Region: Portugal
- Standard & Poors
MADRID (Standard & Poor's) Feb. 18, 2013--Standard & Poor's Ratings Services today lowered to 'C' from 'CCC-' its issue ratings on preferred stock (ISIN: XS0195376925 and ISIN: XS0230957424) guaranteed by Portugal-based Caixa Geral de Depósitos S.A. (BB-/Negative/B) and issued by subsidiary Caixa Geral Finance Ltd. The outstanding amounts on the two issues are ?66 million and ?45 million respectively. Due to an error, we did not lower the ratings on these two issues when the dividend payments were skipped on Dec. 28, 2012, and Dec. 30, 2012 respectively. RATINGS LIST Downgraded To From Caixa Geral Finance Ltd. Preference Stock* C CCC- *Guaranteed by Caixa Geral de Depositos S.A....
Companies mentioned in this report are:
- Caixa Geral de Depositos S.A.
- Caixa Geral Finance Ltd.
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