Tags: S&P | Downgrades | Spain | Banking

S&P Downgrades Spain's Banking Sector

Tuesday, 11 Oct 2011 02:02 PM

Standard & Poor's Tuesday downgraded a key measure of risk for Spain's banking sector, warning that the economic crisis will continue to have a negative impact on Spanish banks in the next 15-18 months.

S&P revised Spain's Banking Industry Country Risk Assessment to 4 from 3. The so-called BICRA scale ranges from Group 1, the strongest, to Group 10, the weakest.

Countries in the Group 4 include the Czech Republic, Israel, Korea, Mexico, and the Slovak Republic.

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Standard Poor's Tuesday downgraded a key measure of risk for Spain's banking sector, warning that the economic crisis will continue to have a negative impact on Spanish banks in the next 15-18 months.S P revised Spain's Banking Industry Country Risk Assessment to 4 from...
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2011-02-11
Tuesday, 11 Oct 2011 02:02 PM
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