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Article: SPAIN: MOODY'S REVIEWS FOR DOWNGRADE AHORRO CORPORACION FINANCIERA'S A2/P-1 RATINGS.
- Article from:
- IPR Strategic Business Information Database
- Article date:
- March 5, 2009
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Moody's Investors Service has today placed the A2 long-term and Prime-1 short-term issuer ratings of Ahorro Corporacion Financiera S.V., S.A. (ACF) on review for possible downgrade. Moody's decision reflects the potential deterioration in ACF's credit profile as a result of the challenging and volatile capital market conditions that are affecting not only ACF but also the Spanish savings banks, which are its main customers, counterparties and owners. Given Moody's expectation that the currently difficult market environment will persist in the near and possibly medium term, the review will focus on the following specific areas: (i) The future resilience of ACF's earnings ...