DBRS rates Bankia debt BBB

DBRS said it assigned ratings to Bankia SA’s senior non-preferred debt at BBB and subordinated debt at BBB (low).

These instruments are included in the bank’s €30 billion and €10 billion programs.

DBRS also said it assigned a BB (low) rating to the additional tier 1 instruments of Bankia.

All of the ratings have a stable trend.

The debt will be rated one notch lower than the bank’s long-term issuer rating and intrinsic assessment of BBB (high).

The subordinated debt issued under the program will be rated two notches lower than Bankia’s intrinsic assessment, the agency said.

The ratings consider the probability of the bank, tripping the capital trigger, DBRS said.

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