RPT-Fitch affirms Catalunya Banc's state guaranteed debt at 'BBB'
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June 7 (Reuters) - (The following statement was released by the rating agency)
Fitch Ratings has affirmed Catalunya Banc's state guaranteed Long-Term senior debt rating of 'BBB'.
KEY RATING DRIVERS - SENIOR DEBT
While Fitch does not rate Catalunya Banc, the issues bear the full guarantee of the Spanish government ('BBB'/Negative/F2), hence they are rated at the same level as Spain's Long-Term foreign currency rating.
KEY RATING SENSITIVITIES - SENIOR DEBT
The state guaranteed issue ratings are primarily sensitive to changes in Spain's Long Term foreign currency ratings. Upgrade rating potential will arise if the bank is sold to a higher rated institution.
Catalunya Banc's state guaranteed notes, whose Long-Term senior debt rating was affirmed at 'BBB', are as follows:
- EUR221.5m, issued in June 2010, maturing in June 2015, floating rate, ISIN code: ES0315346090
- EUR31.5m, issued in June 2010, maturing in June 2015, fixed rate 4.24%, ISIN code ES0315346082.
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