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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’.
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.
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.