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Moody's May Downgrade Spain Banks Monday

The fresh downgrades, expected after the close of US stock markets (2100 GMT), follow Moody's move of lowering Spain's sovereign debt rating by three notches on June 13. Most of the banks are expected to be downgraded by two or three notches, these people said. Moody's, one of the three biggest ratings firms along with Fitch Ratings and Standard & Poor's, cut its rating on Spain to Baa3 from A3, putting it one level above junk status. Moody's also said it will keep Spain on review for a possible further downgrade. Moody's rates Spain the lowest among the three big ratings firms. The two largest and healthiest Spanish banks, Banco Santander SA (SAN) and Banco Bilbao Vizcaya Argentaria SA (BBVA) have held ratings that are one notch above Spain's sovereign debt rating, thanks to their vast and highly profitable businesses outside Spain. Many of the smaller, domestically focused banks already have junk status at Moody's and at rival agencies. Fitch cut its rating on Spain earlier in June to triple-B from single-A, which is one notch higher than where Moody's rates Spain on its respective scale. S&P downgraded Spain to triple-B-plus from single-A on April 26. That is one notch above Fitch's rating and two above the rating by Moody's. Moody's had already cut 16 Spanish banks by one to three notches on May 17. Write to Christopher Bjork at christopher.bjork@dowjones.com

Stock News for Banco Santander Chile (SAN)
DateTimeHeadline
05/04/201616:49:42Report of Foreign Issuer (6-k)
04/29/201617:43:35Report of Foreign Issuer (6-k)
04/28/201603:20:00BBVA First-Quarter Net Profit Slides
04/27/201607:33:00Santander Brasil Profit Rises Slightly, As Provisions Charges...
04/27/201606:26:00Santander's Profit Slips on Currency Turbulence -- 3rd Update
04/27/201603:22:00Santander's Profit Slips on Currency Turbulence -- 2nd Update
04/27/201602:40:00Santander's Profit Slips on Weaker Lending and Fee Income
04/27/201602:30:00Santander's Profit Slips on Weaker Lending and Fee Income...
04/27/201601:46:00Santander 1Q Net Profit Falls 5% on Year on Weaker Lending Income
04/26/201613:33:47Report of Foreign Issuer (6-k)
04/26/201613:30:00Weak Earnings Expected From Brazil's Banks
04/26/201610:21:58Santander Bank Donates $150,000 to Junior Achievement to Bring...
04/26/201607:00:00Subzero Eurozone Rates Blamed for Spanish Banks' Woes
04/26/201606:35:00Subzero Eurozone Rates Blamed for Spanish Banks' Woes
04/26/201605:41:00Banco Santander SA 1Q 2016 -- Forecast
04/21/201616:20:36Notice of Iran-related Disclosure Filed Pursuant to Section 13(r)(3...
04/21/201616:18:04Annual and Transition Report (foreign Private Issuer) (20-f)
04/20/201614:40:00Santander Holdings USA Declares Quarterly Dividend on Preferred...
04/20/201606:04:07Amended Statement of Ownership (sc 13g/a)
04/18/201615:00:00Argentina's New Debt Offering Drawing Strong Demand

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