Spain-based Abanca has announced that it will acquire Banco Caixa Geral, the Spanish subsidiary of Portuguese-Caixa Geral de Depositos. We anticipate that the acquisition will have a limited impact on Abanca's overall financials and credit profile. We are therefore affirming our 'BB+/B' long- and short-term ratings on Abanca. The stable outlook reflects our view that Abanca will be able to maintain its risk-adjusted capital ratio in the 7.0%-7.5% range over the next 12-18 months, while at the same time focusing on further reducing its stock of problematic assets. On Nov. 27, 2018, S&P Global Ratings affirmed its 'BB+/B' long- and short-term issuer credit ratings on Spain-based Abanca Corporacion Bancaria S.A. (Abanca). The outlook is stable. The affirmation follows Abanca's announcement
