Santander, the first European bank that will not redeem its issue of CoCos

S&P raises Santander rating above Spain sovereign

After recently raising Spain’s sovereign ratings to ‘BBB+’ from ‘BBB’, S&P has also improved its stance on some of the country’s top banks. S&P’s upgrades comes in the same week as the Madrid local authorities said they could not renew the contracts with that agency.

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Market chatter: S&P, you’re late (Spain already gets AA+ treatment)

MADRID | By Jaime Santisteban | S&P has upgraded Spain’s credit rating for the first time since stripping the country of its AAA grade in 2009, increasing its assessment to BBB from BBB- and saying the outlook is stable. But ten-year Spanish bond yields stay at 3.004% following last week’s auction, while the U.S. benchmark 10-year note yield, was up 1.5 basis points at 2.550%, according to Tradeweb. A BBB player is getting more or less the same treatment in the market as a AA+.

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S&P affirms Spanish rating is safe for now

NEW YORK | Their outlook remains negative, but there is some brightness in the horizon, the agency reckons. Standard and Poors will not cut Spain’s rating because it believes the country has done its homework, showing a strong commitment to economic and fiscal adjustment. It will continue to receive support from its European partners and the ECB and therefore its debt will remain below 80 percent of GDP beyond 2015….


S&P, Pain, Spain, Spanic

The housing bubble, like the turbid monster of an old movie, blows in time and again. Didn’t Spain’s president Mariano Rajoy see it coming? Standard & Poor’s Rating Services might have opened his eyes when it lowered its long-term sovereign credit rating. The Kingdom of Spain woke up on Friday under the ‘BBB+’ tag from the previous ‘A’. The risk agency did not just cut down the short-term sovereign credit rating to…

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Spanish Treasury 1, Standard&Poor’s 0: the game goes on

By Tania Suárez, in Madrid | Spain’s bill auction on Tuesday has been another success for the sixth time in a row. This time, the Spanish Treasury has placed €2,506.8mn in Treasury bills at 3 and 6 months and so, beats its target of €2,500mn. The yields have fallen almost half a point compared to December’s results. Specifically, the Treasury has sold €1.43bn of the €6.053,85mn demanded by investors in…

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Barclays: “S&P will not cut any sovereign rate in a one or two-year period”

By Julia Pastor, in Madrid | After some weeks of good tone in the European stock markets, they suffered the consequences on Monday of the massive rating cut by S&P last weekend. The Ibex35 woke up today with shares drowning in red, except for Ebro Foods and Gas Natural, and is being dominated by volatility for the rest of the day.However, it is the rating agencies’s credibility which is being called…