Madrid: The ratings agency Standard and Poor`s has upgraded its ratings on several Spanish banks following its decision of raising Spain`s sovereign debt rating.
The S&P raised Spain`s sovereign debt rating from BBB- to BBB with a stable outlook May 23 and said the upgraded ratings on some Spanish banks was result of that decision, reported Xinhua.
The S&P raised the eurozone`s leading bank Santander rating from BBB to BBB+ with stable outlook. It raised Spain`s second-largest lender BBVA rating from BBB- to BBB with a stable outlook and Cecabank`s from BB+ to BBB with positive outlook.
The agency also upgraded Bankinter`s rating from BB to BB+ with positive outlook and has changed Caixabank, Banco Sabadell and Bankia outlooks from stable to positive.
