NEW YORK -- IBCA, the European rating agency, said it raised Banco Espanol de Credito's long-term debt to single-A from A-minus and its short-term rating to A1 from A2.

IBCA also said it downgraded Banco Santander's long-term rating to AA-minus from AA.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.