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S&P assigns ratings to Instituto de Crédito Oficial

S&P Global Ratings on Sept. 26 assigned Spanish specialty lender Instituto de Crédito Oficial A/A-1 long- and short-term issuer credit ratings, with a stable outlook on the long-term rating.

The rating agency said it considers the financial company as a government-related entity and therefore equalized its long-term rating with that of Spain, with a view that the company will likely to receive timely and sufficient extraordinary support from the government in the event of financial distress.

The stable outlook on the firm also reflects that on Spain.

On Sept. 25, DBRS revised the trend on the company's ratings to positive from stable, while affirming its A long-term issuer, deposit and senior debt ratings and R-1 (low) short-term issuer, deposit and debt ratings.

This S&P Global Market Intelligence news article may contain information about credit ratings issued by S&P Global Ratings. Descriptions in this news article were not prepared by S&P Global Ratings.