The Banks in Spain Fall Mainly - The Latest On Spain's Banking Disaster

http://www.businessinsider.com/sp-axed-the-ratings-of-11-spanish-banks-this-morning-2012-4

If you live in the U.S., then you probably missed one of the biggest headlines out this morning:

Standard & Poor's ratings agency took negative actions on 16 Spanish banks—downgrading 11 of them—following a sovereign downgrade last week to BBB+.

Here are the big changes:

Santander: A+ to A-
Banesto: A+ to A-
Santander Consumer Finance: A to BBB+
BBVA: A to BBB+
Banco Sabadell: BBB- to BB+
Ibercaja Banco: BBB to BBB-
Kutxabank: BBB to BBB+
Banca Civica: BBB- to BB+
Bankinter: BBB to BBB-
Confederación Española de Cajas de Ahorros (CECA): BBB to BBB-
BBSA: A to BBB+
La Caixa: BBB- (placed on creditwatch negative)
CaixaBank: BBB+ (placed on creditwatch negative)
Bankia: BBB- (placed on creditwatch negative)
Banco Financiero y de Ahorros S.A. (BFA): BB- (placed on creditwatch negative)
Banco Popular Espanol: BBB- (to remain on creditwatch negative)

Read more: http://www.businessinsider.com/sp-axed-the-ratings-of-11-spanish-banks-this-morning-2012-4#ixzz1tatt1US3

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