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Ratings Raised On Seven Spanish Mortgage Covered Bond Programs After Similar Action On Spain; Outlooks Remain Positive

Published Mar 27, 2018

5 pages (1685 words) — Published Mar 27, 2018

Price US$ 150.00 | Buy this Report Now

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Abstract:

OVERVIEW On March 23, 2018, we raised our unsolicited long-term sovereign credit rating on Spain to 'A-' from 'BBB+'. Following this upgrade and the application of our criteria, we have raised our ratings on seven Spanish mortgage covered bond programs. The positive outlook on our ratings on all of these programs reflects the outlook on our unsolicited long-term rating on Spain. MADRID (S&P Global Ratings) March 27, 2018--S&P Global Ratings today raised its credit ratings on seven Spanish mortgage covered bond programs and related issuances ("cédulas hipotecarias"; see list below). Today's upgrades follow our March 23, 2018 upgrade of Spain (see "Spain Long-Term Ratings Raised To 'A-' On Economic Growth And Budgetary Consolidation; Outlook Positive"). Our ratings reflect the application

Brief Excerpt:

...OVERVIEW + On March 23, 2018, we raised our unsolicited long-term sovereign credit rating on Spain to 'A-' from '###+'. + Following this upgrade and the application of our criteria, we have raised our ratings on seven Spanish mortgage covered bond programs. + The positive outlook on our ratings on all of these programs reflects the outlook on our unsolicited long-term rating on Spain. MADRID (S&P Global Ratings) March 27, 2018--S&P Global Ratings today raised its credit ratings on seven Spanish mortgage covered bond programs and related issuances ("cTdulas hipotecarias"; see list below). Today's upgrades follow our March 23, 2018 upgrade of Spain (see "Spain Long-Term Ratings Raised To 'A-' On Economic Growth And Budgetary Consolidation; Outlook Positive"). Our ratings reflect the application of our covered bonds criteria and structured finance ratings above the sovereign (RAS) criteria (see "Covered Bonds Criteria," published on Dec. 9, 2014 and "Ratings Above The Sovereign - Structured...

Report Type:

Ratings Action

Ticker

BBVA@SM

Issuer

Banco Bilbao Vizcaya Argentaria S.A.

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

Spain

Region

United States

Format:

PDF

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Ratings Raised On Seven Spanish Mortgage Covered Bond Programs After Similar Action On Spain; Outlooks Remain Positive" Mar 27, 2018. Alacra Store. May 06, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Seven-Spanish-Mortgage-Covered-Bond-Programs-After-Similar-Action-On-Spain-Outlooks-Remain-Positive-2012928>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Raised On Seven Spanish Mortgage Covered Bond Programs After Similar Action On Spain; Outlooks Remain Positive Mar 27, 2018. New York, NY: Alacra Store. Retrieved May 06, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Seven-Spanish-Mortgage-Covered-Bond-Programs-After-Similar-Action-On-Spain-Outlooks-Remain-Positive-2012928>

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