Moody's lowers Spanish banks

Moody's Investors Service said it downgraded by one to three notches the long-term debt and deposit ratings for 16 Spanish banks and Santander UK PLC, a subsidiary of Banco Santander (Spain) SA.

The agency said the rating downgrades primarily reflect the concurrent downgrades of most of these banks' standalone credit assessments and in five cases also Moody's assessment that the Spanish government's ability to provide support to the banks has reduced.

The affected banks include: Banco Santander SA; Banco Espanol de Credito Banesto; Santander; Banco Bilbao Vizcaya Argentaria, SA; CaixaBank; Caja de Ahorros Y Pensiones de Barcelona la Caixa; Caja Rural de Navarra; Banco Cooperativo Espanol; Bankinter; Ceca; Caja Rural de Granada; Liberbank; Cajamar; and Lico Leasing.

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