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Article: MOODY'S CHANGES OUTLOOK ON CAIXA PENEDES' BFSR TO NEGATIVE AFFIRMS DEBT RATINGS
- Article from:
- Info-Prod Research (Middle East)
- Article date:
- December 16, 2007
CopyrightCopyright 2007 Info-Prod Research (Middle East). Provided by ProQuest LLC. (Hide copyright information)
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Madrid, 14 December 2007 -- Moody's InvestorsService has today
put on negative outlook the C Bank Financial StrengthRating (BFSR)
of Caixa d'Estalvis del Penedes (Caixa Penedes) andaffirmed the A2/
Prime-1 senior debt and deposit ratings, with a stableoutlook. "The
outlook change on the BFSR reflects the negative trends in
CaixaPenedes' asset quality, which are primarily driven by the
retail and SMEsegments. Continuation of the trends would weaken the
savings bank'sshock absorption capacity in the current more
challenging operatingenvironment," says Maria Cabanyes, a Moody's
Senior Vice President. Moody's also notes that, although the risk
profile of Caixa Penedes'exposure to the overheated ...