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- Daily Brief - Thursday 23 October 2014
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Standard and Poor downgrade Spain's Banks
Last week Standard & Poor's credit ratings agency reduced the rating for Spain from A/A-1 to BBB+/A-2 with a 'negative outlook'.
S&P have also noted how this has had a negative effect on many Spanish Banks, and could also have negative implications for their view of the economic risk and industry risk affecting the Spanish banking industry.
Earlier today the agency took rating actions on the following Spanish banks:
Long and Short term credit reduction on Santander; Banesto; BBVA; Sabdell; Ibercaja: KutxaBank; Banco Civica; Bankinter; Barclays; Bankia; Banco Popular; CECA; CaixaBank; La Caixa
Standard and Poor's credit ratings agency is due to give a further review of the induvidual banks operating in the Spanish financial sector by the end of May.
Latest News & Stories
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- 'Thieving, Cheating Gypsies' v Royal Spanish Academy
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- Volotea Airlines plans to establish 5 bases in Spain by 2016
- Spain says no going back on AENA IPO
- UN warns Spain on legality of spot deportation of illegal immigrants
- Rajoy : "Sorry for Corruption"
- Spain's ruling PP expels Rodrigo Rato
- Madrid moves to block new Catalan vote
- How and where to complain about my Bank in Spain
- Bank guarantees - when things go wrong
- Opening a Bank Account in Spain
- Bank Charges in Spain