S&P upgrades Spanish banks on positive outlook

08/22/2014 10:35

Standard & Poor’s Ratings Services has upgraded its rating for four Spanish banks and revised the outlook upwards on a further five banks based on an improving economic outlook.

The ratings agency has increased its rating on Banco Santander to BBB+, Banco Bilbao Vizcaya Argentaria has moved to BBB, Cecabank is now a BBB- rating and Bankinter has been upgraded to BB+.