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Ratings Raised On Nine Spanish Covered Bond Programs Following Upgrade Of Spain

Published Oct 13, 2015

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About This Report

Abstract:

OVERVIEW On Oct. 2, 2015, we raised our long-term rating on Spain to 'BBB+' from 'BBB'. Following this upgrade, we have raised our ratings on eight Spanish mortgage covered bond programs and one public sector covered bond program. The outlook on our ratings on all of these programs is stable. MADRID (Standard&Poor's) Oct. 13, 2015--Standard&Poor's Ratings Services today raised its credit ratings on eight Spanish mortgage covered bond programs and related issuances ("cédulas hipotecarias"). At the same time, we have raised our ratings on one public sector covered bond program and related issuances ("cédulas territoriales"). The outlook on our ratings on all of these programs is stable (see list below). Today's upgrades of these covered bond

Report Type:

Ratings Action

Ticker

CRI@SM

Issuer

CaixaBank, S.A.

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

Spain

Region

Europe, Middle East, Africa

Format:

PDF

Bulletin: CaixaBank Ratings Unaffected By Announced Divestment Of Two Large Financial Institutions' Holdings – 2015/12/04 – Free

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Ratings Affirmed At 'A+' On CaixaBank's Spanish Mortgage Covered Bonds Following Review; Outlook Stable – 2016/05/27 – US$ 150.00

Transaction Update: CaixaBank S.A. (Mortgage Covered Bonds) – 2016/05/31 – US$ 375.00

CaixaBank S.A. – 2015/10/07 – US$ 500.00

Summary: CaixaBank S.A. – 2015/10/07 – US$ 225.00

CaixaBank S.A. – 2015/09/22 – US$ 500.00

Summary: CaixaBank S.A. – 2015/09/22 – US$ 225.00

Research Update: Ratings On CaixaBank And Banco BPI Affirmed Following Tender Offer Revocation; Banco BPI Assigned Negative Outlook – 2015/06/22 – US$ 225.00

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MLA:	S&P Global Ratings’ Credit Research. "Ratings Raised On Nine Spanish Covered Bond Programs Following Upgrade Of Spain" Oct 13, 2015. Alacra Store. May 17, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Nine-Spanish-Covered-Bond-Programs-Following-Upgrade-Of-Spain-1463774>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Raised On Nine Spanish Covered Bond Programs Following Upgrade Of Spain Oct 13, 2015. New York, NY: Alacra Store. Retrieved May 17, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Nine-Spanish-Covered-Bond-Programs-Following-Upgrade-Of-Spain-1463774>

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