This indeed is a big blow for the eu bail out. eu going down to 1.2100 by the weekend.
Fitch Downgrades Santander & BBVA to 'BBB+'/Negative Outlook on Sovereign Action
Fitch Ratings has downgraded Banco Santander's (Santander) and Banco Bilbao Vizcaya Argentaria's (BBVA) Long-term Issuer Default Ratings (IDR) to 'BBB+' from 'A' and Viability Ratings (VR) to 'bbb+' from 'a'. The Outlooks on the Long-term IDRs are Negative. At the same time, Fitch has downgraded Santander UK plc's (San UK) Long-term IDR to 'A' from 'A+' and VR to 'a' from 'a+'. The Outlook on San UK's Long-term IDR is Stable. Fitch has also taken actions on various other Spanish subsidiaries of Santander and issuing vehicles of both Santander and BBVA. A full list of rating actions is at the end of this comment. The rating actions are ... (full story)
- Posted: Jun 11, 2012 11:15am
- Submitted by:Category: Medium Impact Breaking NewsComments: 2 / Views: 2,075