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Ratings Raised On Two Spanish Mortgage Covered Bond Programs Following Banks Review

Published Dec 09, 2015

4 pages (1516 words) — Published Dec 09, 2015

Price US$ 150.00 | Buy this Report Now

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Abstract:

OVERVIEW On Dec. 2, 2015, we concluded our review of the rating consequences for European banks of evolving government support and enhanced resolution frameworks. Following this review, we have raised to 'A' from 'A-' our ratings on Abanca's Spanish mortgage covered bond program and related issuances. We have also raised to 'A-' from 'BBB+' our ratings on Cajas Rurales Unidas' mortgage covered bond program and related issuances to reflect the issuer's creditworthiness. The outlook on our ratings on these two programs is stable. MADRID (Standard&Poor's) Dec. 9, 2015--Standard&Poor's Ratings Services today raised to 'A' from 'A-' and to 'A-' from 'BBB+' its credit ratings on Abanca Corporacion Bancaria S.A.'s and Cajas Rurales Unidas S.C.C.'s Spanish mortgage

Brief Excerpt:

...OVERVIEW + On Dec. 2, 2015, we concluded our review of the rating consequences for European banks of evolving government support and enhanced resolution frameworks. + Following this review, we have raised to 'A' from 'A-' our ratings on Abanca's Spanish mortgage covered bond program and related issuances. + We have also raised to 'A-' from '###+' our ratings on Cajas Rurales Unidas' mortgage covered bond program and related issuances to reflect the issuer's creditworthiness. + The outlook on our ratings on these two programs is stable. MADRID (Standard & Poor's) Dec. 9, 2015--Standard & Poor's Ratings Services today raised to 'A' from 'A-' and to 'A-' from '###+' its credit ratings on Abanca Corporacion Bancaria S.A.'s and Cajas Rurales Unidas S.C.C.'s Spanish mortgage covered bond programs and related issuances ("cTdulas hipotecarias"), respectively. The outlook on our ratings on these programs is stable (see list below). On Dec. 2, 2015, we concluded our review of the rating consequences...

Report Type:

Ratings Action

Issuer

Cajamar Caja Rural S.C.C.

Sector

Global Issuers, Structured Finance

Country

Spain

Region

Europe, Middle East, Africa

Format:

PDF

Transaction Update: Cajas Rurales Unidas S.C.C. (Mortgage Covered Bonds) – 2015/12/21 – US$ 375.00

Ratings Affirmed At 'A-' On Cajamar's Mortgage Covered Bonds Following Review; Outlook Stable – 2016/12/07 – US$ 150.00

Transaction Update: Cajamar Caja Rural S.C.C. (Mortgage Covered Bonds) – 2016/12/14 – US$ 375.00

Outlook On Cajamar's Spanish Mortgage Covered Bonds Revised To Positive From Stable; 'A-' Ratings Affirmed – 2017/02/16 – US$ 150.00

Transaction Update: Cajamar Caja Rural S.C.C. (Mortgage Covered Bonds) – 2017/10/12 – US$ 375.00

Various Rating Actions Taken On 11 Spanish Mortgage Covered Bond Programs Following Application Of Revised Criteria – 2015/02/05 – US$ 150.00

Outlook On Cajas Rurales Unidas Spanish Mortgage Covered Bond Program Revised To Stable From Negative – 2014/12/04 – US$ 150.00

Transaction Update: Cajas Rurales Unidas S.C.C. Spanish Mortgage Covered Bond Program – 2014/11/05 – US$ 375.00

Cajas Rurales Unidas Spanish Mortgage Covered Bond Program 'BBB-' Rating Affirmed On Revised Criteria; Outlook Negative – 2014/10/15 – US$ 150.00

Transaction Update: Cajas Rurales Unidas S.C.C. Mortgage Covered Bond Program – 2013/11/28 – US$ 375.00

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MLA:	S&P Global Ratings’ Credit Research. "Ratings Raised On Two Spanish Mortgage Covered Bond Programs Following Banks Review" Dec 09, 2015. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Two-Spanish-Mortgage-Covered-Bond-Programs-Following-Banks-Review-1546712>

APA:	S&P Global Ratings’ Credit Research. (). Ratings Raised On Two Spanish Mortgage Covered Bond Programs Following Banks Review Dec 09, 2015. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Ratings-Raised-On-Two-Spanish-Mortgage-Covered-Bond-Programs-Following-Banks-Review-1546712>

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