S&P stabilizes Spanish banking view

S&P said it revised its outlook for the Spanish banking system to stable from negative on Friday.

“The Spanish banking system has demonstrated resilience to the Covid-19 pandemic, and although the conflict in Ukraine renders the economic outlook more uncertain, we think downside risks for Spanish banks are limited,” S&P said in a press release.

Therefore, the agency revised the outlooks for Banco Santander SA, Santander Consumer Finance SA, Santander Consumer Bank AG, Banco Bilbao Vizcaya Argentaria SA and BBVA Global Markets BV to stable from negative and affirmed all ratings.

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