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DBRS lowers Popular
DBRS said it has downgraded the ratings of Banco Popular Espaņol SA following the downgrade of the Kingdom of Spain.
The agency said it has downgraded Popular's senior unsecured long-term debt & deposit rating to A (low) from A (high) and short-term debt & deposit rating to R-1 (low) from R-1 (middle).
The trend on all long-term ratings is now negative, and the trend on all short-term ratings is now stable.
At the same time, Popular's intrinsic assessment has been lowered to A (low) from A, the agency noted.
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