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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Perspective who wrote (254294)	6/15/2010 11:07:42 AM
From: Kayaker	Read Replies (2) \| Respond to of 306849

Spain Says Banks in Credit Crunch Country Prepares Labor Overhaul As Investor Concerns Rise JUNE 15, 2010 By PAULO PRADA MADRID—Spanish officials acknowledged that the country's banks and companies are having difficulty finding credit, underscoring the pressure Madrid faces to pursue deep structural changes to win back investor confidence.... online.wsj.com

To: Perspective who wrote (254294)	6/15/2010 11:18:59 AM
From: patron_anejo_por_favor	Read Replies (2) \| Respond to of 306849

Yes, the chart came out well. Love the ticker symbol....<G>

To: Perspective who wrote (254294)	7/14/2010 10:04:20 AM
From: Smiling Bob	Respond to of 306849

=DJ S&P: Santander, BBVA Face Downgrade If Spain Debt Rating Cut . By Santiago Perez Of DOW JONES NEWSWIRES MADRID (Dow Jones)--Credit rating firm Standard & Poor's reiterated on Wednesday its negative outlook on Spanish banks Santander SA (STD) and Banco Bilbao Vizcaya Argentaria SA (BBVA) due to a continued unsupportive economic environment, and its impact on the banks' domestic operations. S&P also affirmed its 'AA/A-1+' ratings on both banks, but said that although they are demonstrating resilience to the global downturn, the negative outlook reflects the likelihood that it would downgrade both banks if it were to downgrade Spain's sovereign debt ratings. "The affirmation reflects our view that Santander and BBVA are weathering the global financial and economic crisis relatively well, particularly the severe downturn in their domestic market, as well as in some other key geographic areas where they operate," said S&P's credit analyst Angela Cruz. The operating conditions that Santander and BBVA are facing are, in S&P's opinion, negatively affected by the challenging trends in economic growth in the banks' main markets, the sharp adjustment of the real-estate sector in some of these key markets--notably Spain, the U.K., and the U.S--and volatile capital markets with ongoing episodes of illiquidity. These factors test both banks' historically healthy asset quality and operating profitability, S&P added. Nevertheless, they have so far posted strong returns and manageable levels of credit losses, while also managing to strengthen capital. "At the current level, the ratings on Santander reflect our view of its strong business profile, in particular its wide and sensible geographic diversification, solid market share in core markets, successful and well-executed strategy, and its strong, resilient operating profitability and solid capitalization, following a significant improvement in 2009," said S&P's credit analyst Elena Iparraguirre. The ratings on BBVA, in turn, reflect S&P's view of a strong franchise in its key markets, resilient financial performance, and conservative strategy, according to S&P's Cruz. At 1354 GMT, Santander shares were down 1.6% at EUR9.97, while BBVA lost 1.3% to EUR9.66. Spain's key IBEX-35 index, in turn, was down 0.7%. -By Santiago Perez; Dow Jones Newswires; (34) 395 8119; santiago.perez@dowjones.com Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary: djnewsplus.com. You can use this link on the day this article is published and the following day. (END) Dow Jones Newswires