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.

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Topics:  it&rsquo   standard   poor&rsquo   bankia   banks   billion euros in aid   
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  • Spain Seeks $125 Billion Bailout as Bank Crisis Worsens
    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 ... “When Bankia got into trouble and they had to ...
    06/9/2012 - 7:30 am | View Link
  • Spain’s Bankia says sure of securing massive state bailout
    The new bailout will bring to 23.5 billion euros the total amount of the government’s rescue funding for the bank, which was formed in 2010 from a merger of seven troubled regional savings banks ... Poor’s on Friday downgraded Bankia to BB+, one ...
    05/28/2012 - 5:42 am | View Link
  • More bad news for Spain: Five banks downgraded
    Bankia, one of the downgraded banks, has just asked the government for 19 billion euros in aid, or roughly $23.8 billion boost. Analysts worry that economies and markets now are so intertwined that the emerging slowdown will further weaken economic ...
    05/27/2012 - 4:17 pm | View Link
  • Spain’s bank seeks record bailout of 19 billion euros
    MADRID, May 26: Spain’s fourth-biggest bank, Bankia, said on Friday it will ask the government for 19 billion euros ($24 billion ... ratings for five Spanish banks, including Bankia and its parent group BFA. It downgraded Bankia to BB+, one notch ...
    05/26/2012 - 5:11 pm | View Link
  • Spain bank crisis widens; lender seeks bigger bailout
    MADRID -- Spain's banking crisis worsened Friday as the board of Bankia, the country's biggest mortgage lender, warned that a bailout would cost 23.5 billion euros ($23.88 ... ratings agency, downgraded Bankia and two other banks, Banco Popular and ...
    05/25/2012 - 9:00 pm | View Link
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