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   
BING NEWS:
  • Spain Seeks $125 Billion Bailout as Bank Crisis Worsens
    June 9 (Bloomberg ... Fitch Ratings downgraded Spain to BBB, within two steps of non-investment grade, on June 7 and said the cost to the state of shoring up banks may amount to as much as 100 billion euros in the worst case, compared with its previous ...
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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 ...
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  • Spanish bank seeks government bailout
    MADRID, Spain -- Spain's troubled bank, Bankia, asked the Spanish government for 19 billion euros (US$23.8 billion ... The request came as Standard & Poor's downgraded Bankia and four other Spanish banks to junk status because of uncertainty over ...
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  • 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 ...
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  • Bankia seeks 19 bln euros in government aid
    NEW YORK (MarketWatch) -- The board of troubled Spanish lender Bankia SA [es: bkia] announced Friday that it will seek 19 billion euros ($23.8 ... of several savings banks -a sector that has been hit hard by the collapse in Spain's construction and real ...
    05/25/2012 - 8:32 am | View Link
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