Bankia Mortgage And Public Sector Covered Bond Programs Outlook Revised To Negative; Ratings Affirmed

On Sept. 18, 2020, we affirmed our unsolicited 'A/A-1' long- and short-term sovereign credit ratings on Spain and revised the outlook on the ratings to negative from stable. Following this action and the application of our criteria, we have revised to negative from stable our outlook on our ratings on Bankia's mortgage and public sector covered bonds. At the same time, we have affirmed our 'AA' ratings on Bankia's mortgage covered bonds and our 'AA-' ratings on the public sector covered bonds. Our outlooks on these ratings reflect the negative outlook on our unsolicited long-term rating on Spain. MADRID (S&P Global Ratings) Sept. 28, 2020--S&P Global Ratings today revised to negative from stable its outlook on the credit ratings on

...- On Sept. 18, 2020, we affirmed our unsolicited 'A/A-1' long- and short-term sovereign credit ratings on Spain and revised the outlook on the ratings to negative from stable. - Following this action and the application of our criteria, we have revised to negative from stable our outlook on our ratings on Bankia's mortgage and public sector covered bonds. - At the same time, we have affirmed our '##' ratings on Bankia's mortgage covered bonds and our '##-' ratings on the public sector covered bonds. - Our outlooks on these ratings reflect the negative outlook on our unsolicited long-term rating on Spain. MADRID (S&P Global Ratings) Sept. 28, 2020--S&P Global Ratings today revised to negative from stable its outlook on the credit ratings on Bankia S.A.'s mortgage and public sector covered bond programs and related issuances ("cTdulas hipotecarias" and "cTdulas territoriales"). We have also affirmed our '##' and '##-' ratings on the mortgage and public sector covered bonds, respectively....

Ratings Action