Santander Among 15 Banks Lowered by S&P After Spain Downgraded
Santander Among 15 Banks Lowered by S&P
Simon Dawson/Bloomberg
The headquarters of Banco Santander are seen in London.
The headquarters of Banco Santander are seen in London. Photographer: Simon Dawson/Bloomberg
Banco Santander SA (SAN) and Banco Bilbao Vizcaya Argentaria SA (BBVA) were among 15 Spain-based financial firms downgraded by Standard & Poor’s, after the credit-ratings company reduced the nation’s grade last month.
Santander, Spain’s biggest bank, was lowered to A+ from AA-, while BBVA was reduced to A from A+, S&P said today in a statement. Both have a negative outlook, S&P said. The ratings company had cut the grade on Spain’s long-term debt to A from AA- on Jan. 13.
To contact the reporter on this story: Patrick Clark in New York at pclark48@bloomberg.net
To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net
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