Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Abanca Corporacion Bancaria S.A

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

Published Mar 18, 2019

4 pages (1545 words) — Published Mar 18, 2019

Price US$ 150.00 | Buy this Report Now

About This Report

Abstract:

OVERVIEW On March 11, 2019, Abanca published a commitment to maintain a minimum level of overcollateralization commensurate with the maximum potential notches of collateral-based uplift. As a result of this commitment and following the application of our covered bonds criteria, we have raised to 'AA' from 'AA-' 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. MADRID (S&P Global Ratings) March 18, 2019--S&P Global Ratings today raised to 'AA' from 'AA-' its credit ratings on Abanca Corporación Bancaria S.A.'s (Abanca; BB+/Stable/B) Spanish mortgage covered bond program and related issuances ("cédulas hipotecarias"). Today's upgrades follow Abanca's decision to publish on its website

Brief Excerpt:

...OVERVIEW + On March 11, 2019, Abanca published a commitment to maintain a minimum level of overcollateralization commensurate with the maximum potential notches of collateral-based uplift. + As a result of this commitment and following the application of our covered bonds criteria, we have raised to '##' from '##-' 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. MADRID (S&P Global Ratings) March 18, 2019--S&P Global Ratings today raised to '##' from '##-' its credit ratings on Abanca Corporaci=n Bancaria S.A.'s (Abanca; ##+/Stable/B) Spanish mortgage covered bond program and related issuances ("cTdulas hipotecarias"). Today's upgrades follow Abanca's decision to publish on its website a commitment to maintain a minimum level of overcollateralization in the program commensurate with the maximum notches of potential collateral-based uplift. According...

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

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Summary: Abanca Corporacion Bancaria S.A – 2018/11/02 – US$ 225.00

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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" Mar 18, 2019. 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-2182225>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Raised On Abanca's Spanish Mortgage Covered Bond Program; Outlook Positive Mar 18, 2019. 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-2182225>

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