- S&P says risks for the Spanish banking sector have risen after the rapid deterioration in the creditworthiness of the sovereign.
- S&P says lowering their long and short-term ratings on Confederacion Espanola de Cajas de Ahorros and Ibercaja Banco S.A.
- S&P lowering just the long-term rating on Bankinter S.A.
- S&P are reaffirming ratings on the remaining 12 Spanish banks with an outlook of negative.
- Spanish banks are facing higher credit risks as Spain's weakening economy, public sector cuts, austerity measures and high unemployment will likely hamper the creditworthiness of private and public sector borrowers.
Print 08:08, 23 Nov 2012 - Rating Agency comments - Source: Newswires
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