(ANSAmed) - MADRID, APRIL 30 - Standard & Poor's has lowered
the rating of 11 Spanish financial institutes including
Santander and BBVA, after last week downgrading Spain by two
notches (from A/A-1 to BBB+) according to a statement quoted by
Spanish media. The rating revision was said to have been due to
''significant risks to economic growth and budget
implementation'', which could have negative effects on the
quality of Spain's credit. On Friday an IMF report raised doubts
on the balance sheets of some Spanish banks, warning of ''hidden
default''.
According to data from Spain's central bank, the Spanish
banking sector had accumulated 184 million euros in problematic
real estate assets at the end of 2011, equal to 60% of their
portfolio. (ANSAmed).
