The risk measurement agency Fitch has applied today a massive lowering the rating of the long-term debt of 18 Spanish banks, after yesterday slashed in two steps of the two largest groups, BBVA and Santander.
In a note, the company justified its decision on the lowering of the rating itself from Spain last week, and the possible deterioration of the credit portfolio of some banks if the economic situation worsens.
“It is particularly true for those banks whose loan portfolio is heavily exposed to construction and real estate, and those with a low capital base,” he noted Fitch in a statement.
With widespread cuts, long-term debt of Banco Popular, the group BMN, Liberbank, the Bank Castilla La Mancha, Unicaja and Cajamar are left with an approved low, accessible in the “junk bond” (BBB-).
Of this group, the entity Unicaja stop is worse, since Fitch’s downgrade of three steps, followed by Liberbank, the Bank and Cajamar Castilla La Mancha, with two steps, and to a lesser extent the People and BMN group, with a notch.
The People’s Bank rating remains negative outlook, Fitch is threatening to cut back BMN notes, and the Bank Liberbank Castilla La Mancha, as the three entities are under surveillance.
With a pass, BBB, similar to the classification of long-term debt of the Kingdom of Spain Plaza, stay CaixaBank and La Caixa, Civic Banking, Bankia, Banco Sabadell and Banco Guipuzcoano, the ECSC, the Cooperative Bank, BBK and Bank KutxaBank CajaSur, Caja, and the Iberian cooperative group.
Of these entities, who are most cut by Fitch, two steps have been CaixaBank and La Caixa, KutxaBank CajaSur Bank and BBK.