The ratings agency Standard and Poor’s has downgraded seven Spanish banks – BBVA, Caixabank, Santander, Banesto, Sabadell, el Popular and BFA-Bankia – as a result of the lowering last week of the rate applicable to the Spanish sovereign debt. In effect, the downgrade has been applied to all banks that maintained a rating higher than BBB, the rating currently held by …
28 Spanish banks downgraded by Moody’s
Moody’s is the latest ratings agency to once again downgrade the credit rating of Spanish banks, only seven remaining above ‘junk’ status.
Eleven banks downgraded and five under review
The credit ratings agency Standard and Poor’s has downgraded the credit rating of 11 Spanish banks and put another 5 ‘under review’ with a ‘negative outlook’.