Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive - S&P Global Ratings’ Credit Research

Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive

Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive - S&P Global Ratings’ Credit Research
Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive
Published Apr 11, 2018
4 pages (1596 words) — Published Apr 11, 2018
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

OVERVIEW On March 23, 2018, we raised our unsolicited long-term sovereign credit rating on Spain to 'A-' from 'BBB+'. On April 6, 2018, we raised our issuer credit rating on Abanca to 'BB' from 'BB-'. Following these upgrades and the application of our criteria, we have raised to 'AA-' from 'A+' our ratings on Abanca's Spanish mortgage covered bond program and outstanding issuances. The positive outlook on the ratings reflects the outlook on our unsolicited long-term rating on Spain and the positive outlook on our issuer credit rating on Abanca. MADRID (S&P Global Ratings) April 11, 2018--S&P Global Ratings today raised its credit ratings on Abanca Corporación Bancaria, S.A.'s (Abanca; BB/Positive/B) Spanish mortgage covered bond program and related issuances ("cédulas

  
Brief Excerpt:

...OVERVIEW + On March 23, 2018, we raised our unsolicited long-term sovereign credit rating on Spain to 'A-' from '###+'. + On April 6, 2018, we raised our issuer credit rating on Abanca to '##' from '##-'. + Following these upgrades and the application of our criteria, we have raised to '##-' from 'A+' our ratings on Abanca's Spanish mortgage covered bond program and outstanding issuances. + The positive outlook on the ratings reflects the outlook on our unsolicited long-term rating on Spain and the positive outlook on our issuer credit rating on Abanca. MADRID (S&P Global Ratings) April 11, 2018--S&P Global Ratings today raised its credit ratings on Abanca Corporaci=n Bancaria, S.A.'s (Abanca; ##/Positive/B) Spanish mortgage covered bond program and related issuances ("cTdulas hipotecarias"). Today's upgrades follow our April 6, 2018 upgrade of Abanca and our March 23, 2018 upgrade of Spain (see "Reduced Funding Risks Lead To Upgrades At Several Spanish Banks," and "Spain Long-Term Ratings...

  
Report Type:

Ratings Action

Ticker
0256595Z@SM
Issuer
Abanca Corporacion Bancaria S.A
Sector
Global Issuers, Structured Finance
Country
Spain
Region
Europe, Middle East, Africa
Format:
PDF Adobe Acrobat
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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive" Apr 11, 2018. Alacra Store. May 14, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Abanca-s-Spanish-Mortgage-Covered-Bond-Program-Outlook-Positive-2019595>
  
APA:
S&P Global Ratings’ Credit Research. (). Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive Apr 11, 2018. New York, NY: Alacra Store. Retrieved May 14, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Abanca-s-Spanish-Mortgage-Covered-Bond-Program-Outlook-Positive-2019595>
  
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