Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Banco de Sabadell SA > News item |
Fitch drops Banco de Sabadell to junk
Fitch Ratings said it downgraded Banco de Sabadell's long-term issuer default rating to BB+ from BBB, short-term issuer default rating to B from F3 and viability rating to bb+ from bbb.
The outlook on the long-term issuer default rating is stable.
The downgrades follow a review by Fitch and follow the formalization of Sabadell's acquisition of Banco CAM SAU, according to the agency.
The actions reflect the heightened risks to the bank's financial profile arising from the prolonged recession and real estate crisis in Spain and weakened counterparty/investor confidence in Spain and its banking sector, the agency said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.