S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks - S&P Global Ratings’ Credit Research

S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks

S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks - S&P Global Ratings’ Credit Research
S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks
Published Apr 28, 2010
1065 words — Published Apr 28, 2010
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Abstract:

MADRID (Standard&Poor's) April 28, 2010--Standard&Poor's Ratings Services said today that the one-notch downgrade of the Kingdom of Spain (Spain; AA/Negative/A-1+) has no automatic impact on its ratings on Spanish financial institutions. Nevertheless, our expectation of an extended period of subdued economic growth--one of the main reasons for the rating action on the sovereign--is a key element in our assessment of the risks that the Spanish banking industry is facing. In addition to weak medium-term economic prospects, the economic risks for the Spanish banking industry are heightened in our opinion by: Excessive risk concentration in the overbuilt real estate construction and development sectors; and High private-sector leverage, particularly at the corporate level, stemming from rapid credit expansion

  
Brief Excerpt:

RESEARCH S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks Publication date: 28-Apr-2010 Primary Credit Analyst: Angela Cruz, Madrid (34) 91-389-6945; angela_cruz@standardandpoors.com Secondary Credit Analysts:...

  
Report Type:

News

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:
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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. "S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks" Apr 28, 2010. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/S-P-Comments-On-Implications-Of-Sovereign-Rating-Action-For-Spanish-Banks-795019>
  
APA:
S&P Global Ratings’ Credit Research. (). S&P Comments On Implications Of Sovereign Rating Action For Spanish Banks Apr 28, 2010. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/S-P-Comments-On-Implications-Of-Sovereign-Rating-Action-For-Spanish-Banks-795019>
  
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