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Fitch upgrades short-term issuer default ratings of Banco Sabadell, Bankia

Fitch Ratings on Dec. 20 upgraded the short-term issuer default ratings of Banco de Sabadell SA and Bankia SA to F2 from F3.

Fitch affirmed both Spanish lenders' BBB long-term issuer default ratings, with stable outlooks, "bbb" viability ratings, 5 support ratings and No Floor support floor ratings.

The agency noted that the upgrade of the banks' short-term issuer default ratings is based on its assessment of their improved funding and liquidity profile.