OVERVIEW On April 22, 2015, we took positive rating actions on two Spanish banks, Abanca and Bankia, reflecting developments specific to each bank. As a consequence we are raising to 'A-' from 'BBB+' the ratings on the mortgage covered bond program of Abanca. The outlook is stable. We are also revising our outlook on Bankia's 'A' rated cédulas hipotecarias to stable from negative. MADRID (Standard&Poor's) April 27, 2015--Standard&Poor's Ratings Services said today that it has taken the following rating actions on Spanish banks' covered bonds: It has raised to 'A-' from 'BBB+' its ratings on the mortgage covered bonds (cédulas hipotecarias [CHs]) of Abanca Corporacion Bancaria S.A (Abanca; B+/Stable/B). The outlook is stable. It has revised
