Standard & Poor’s Ratings Services said Spain’s request for a bailout for its lenders “has no immediate effect” on the nation’s BBB+ credit rating.

The 100 billion-euro loan covers the company’s estimate of provisioning needs and the full amount would increase Spain’s debt-to-GDP ratio to more than 80 percent over the three years through 2014, the company said.

If the rescue exceeded 100 billion euros and were borrowed from the euro region’s permanent rescue fund, the facility’s “self-declared preferred creditor status could, in our view, constrain Spain’s access to the capital markets and therefore reduce the likelihood of bondholders being paid in full,” the company said.