Arab Today, arab today fitch cuts 18 spanish banks rating
Last Updated : GMT 08:17:24
Arab Today, arab today
Arab Today, arab today

Fitch cuts 18 Spanish banks rating

Arab Today, arab today

Arab Today, arab today Fitch cuts 18 Spanish banks rating

Madrid - QNA

The international ratings agency Fitch has cut its credit ratings on 18 Spanish banks, including Bankia, after its downgrade of Spain last week.  \"The institutions affected by today\'s rating actions are purely domestic banks. Thus, their revenue generation capacity, risk profile, funding access and cost of funding are highly sensitive to the evolution of Spain\'s economy and its housing market,\" Fitch said in a statement.  Bankia\'s long-term issuer default rating was cut to BBB from BBB+ with a negative outlook, the ratings company said.  CaixaBank was reduced to BBB from A-, Banco Sabadell to BBB from BBB+ and Banco Popular Espanol to BBB- from BBB, Fitch said.  Spain on June 9 sought a European bailout of as much as 100 billion ($125 billion) to support ailing lenders, the fourth euro member to seek a rescue since the debt crisis started almost three years ago.  Fitch, which estimates the capital needs of Spanish banks at as much as 60 billion under a \"base case\" scenario, said it had considered its sovereign downgrade for Spain on June 7 and also the potential for loans of certain banks to worsen in taking Tuesday\'s actions on the lenders.  In another development, Spanish borrowing costs jumped to the most in the history of the euro as European government bonds slumped on concern policy makers aren\'t doing enough to prevent the currency bloc\'s financial woes from deepening, according to the (Economic Times).  French securities slid with benchmark German bunds as Fitch Ratings said it may cut credit grades across Europe because policy makers are failing to demonstrate they can bring the debt crisis under control. The yield on Italian 10-year securities jumped to the most since January as the country prepared to sell bonds on June 14.  Germany will offer 10-year bunds, Europe\'s benchmark securities, on Wednesday, after Austria and the Netherlands auctioned debt on Tuesday. \"People are getting frustrated, there is disaffection with Europe and the situation is not getting any clearer for investors,\" said Gianluca Ziglio, an interest-rate strategist at UBS in London.  \"Many are deciding that they would rather stay out of the market for a while, even in the core countries.\" Spain\'s 10-year yield rose 20 basis points, or 0.2 per centage point, to 6.71% at 4:09 pm London time, after reaching 6.83%, the highest since the euro was introduced in 1999.  The 5.85% bond maturing in January 2022 fell 1.37, or 13.70 per 1,000 ($1,246) face amount, to 93.985. Ratings in the currency bloc, including those of AAA nations, are under \"strong downward pressure,\" Fitch managing director Ed Parker said in Oslo on Tuesday.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch cuts 18 spanish banks rating Arab Today, arab today fitch cuts 18 spanish banks rating

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today fitch cuts 18 spanish banks rating Arab Today, arab today fitch cuts 18 spanish banks rating

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday