28 Spanish banks downgraded by Moody’s

Moody’s is the latest ratings agency to once again downgrade the credit rating of Spanish banks, only seven remaining above ‘junk’ status.

Moody’s downgraded 28 Spanish banks in the wake of Monday’s formal request by the Government for help, the downgrade varying from one to four steps.

The affected banks and savings banks are: Banco Santander, Banco Bilbao Vizcaya Argentaria, Caja Laboral, Banca March, Caja Rural de Navarra, CaixaBank, Bankinter, Banco Cooperativo Español, Banco Popular Español, Banco Sabadell, Kutxabank, Unicaja, Banco Pastor, Confederación Española de Cajas de Ahorro (CECA), Caja Rural de Granada, Bankoa, Liberbank, Ibercaja Banco, Cajamar Caja Rural, Ahorro Corporación Financiera, Lico Leasing, Bankia, Banco CEISS, Catalunya Banc, NCG Banco, Banco CAM, Dexia Sabadell and Banco de Valencia.

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