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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
- Spanish Transport Federation Denounces British Transport Tax
- Spain marks 10th anniversary of Madrid bombings
- Spain sees closure of 27 bars per day during crisis
- Spain revamps debt rules to help struggling companies
- Vodafone reaches preliminary deal to buy Spain's Ono
- Aerocas approve award of contract for Castellon Airport
- Education reform protects Spanish more than other official languages
- Spain "should impose fiscal devaluation to restore competitiveness" : Montoro
- Orange Spain revenues down 1.9% in Q4 to €992 Mln
- Lidl to invest further €180 Mln in Spain
- How and where to complain about my Bank in Spain
- Bank guarantees - when things go wrong
- Opening a Bank Account in Spain
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