It’s not looking good for the Spanish banking system. Standard & Poor’s just slashed the credit ratings of five banks and said the country is headed into a double-dip recession. One of them, Bankia, just asked the government for 19 billion euros in aid - a roughly $23.8 billion boost.

Topics:  it&rsquo   standard   poor&rsquo   bankia   banks   billion euros in aid   
  • Spain Seeks $125 Billion Bailout as Bank Crisis Worsens
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  • Spain’s bank seeks record bailout of 19 billion euros
    MADRID, May 26: Spain ... to 31.8 billion euros at the end of last year, according to Bank of Spain figures. Standard & Poor’s on Friday cut its credit ratings for five Spanish banks, including Bankia and its parent group BFA. It downgraded Bankia ...
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  • Leading Spanish bank seeks fund support to avert bankruptcy
    Berlin: Spain's ... Friday evening downgraded the creditworthiness of Bankia and four other banks to BB+ from BBB. Last week, Moody's downgraded 16 Spanish banks. Bankia announced on Friday that it suffered a loss of around 3 billion euros in 2011 ...
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  • Spanish Lender Seeks 19 Billion Euros; Ratings Cut on 5 Banks
    Spain’s banking crisis worsened Friday as the board of Bankia, the country’s biggest mortgage lender, warned that it would need an additional 19 billion euros ($23.88 ... ratings agency, downgraded Bankia and two other banks, Banco Popular and ...
    05/25/2012 - 6:55 pm | View Link
  • Spain's Bankia seeks €19 billion bailout
    The board of directors of Spain's troubled bank, Bankia SA, has said it has agreed to ask for €19 billion in state funds ... credit rating agency Standard & Poor's downgraded Bankia and four other Spanish banks to junk status because of uncertainty ...
    05/25/2012 - 1:00 pm | View Link
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