The ratings agency Standard and Poor’s has downgraded seven Spanish banks – BBVA, Caixabank, Santander, Banesto, Sabadell, el Popular and BFA-Bankia – as a result of the lowering last week of the rate applicable to the Spanish sovereign debt. In effect, the downgrade has been applied to all banks that maintained a rating higher than BBB, the rating currently held by …
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.
Sixteen banks downgraded by ratings agency Moody’s
The ratings agency Moody’s has cut the credit ratings of sixteen Spanish banks, including two of the largest, Banco Santander and BBVA. Ten of the 16 banks were also put on negative credit watch, meaning that further downgrades are possible.
Eleven banks downgraded and five under review
The credit ratings agency Standard and Poor’s has downgraded the credit rating of 11 Spanish banks and put another 5 ‘under review’ with a ‘negative outlook’.
Spain’s debt rating cut again
Moody’s has downgraded the rating of Spain’s government bonds by two notches from Aa2 to A1 with a negative outlook just two days after Standard & Poor’s took the same decision.
Italian and Spanish debt downgraded
Italian and Spanish government debt have both been downgraded by the Fitch credit rating agency. Fitch cut Italy’s rating from AA- to A+. Fellow agency Moody’s carried out downgrades earlier this week.