Fitch Affirms Bankia at 'BBB-'/Negative; Upgrades VR to 'bb+'

April 1, 2015 3:58 PM

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(The following statement was released by the rating agency) BARCELONA/LONDON, April 01 (Fitch) Fitch Ratings has affirmed Spain-based Bankia, S.A.'s Long-term Issuer Default Rating (IDR) at 'BBB-', with a Negative Outlook, and its Short-term IDR at 'F3'.

The agency has also upgraded Bankia's Viability Rating (VR) to 'bb+' from 'bb-', reflecting improvements to its standalone credit profile, primarily in the form of fewer non-performing loans, operational efficiency gains from a restructuring that is largely completed, as well as improvements in capi...

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