DBRS Notes Correction to Ratings for Certain Entities of Banco Popular Español S.A.

DBRS has today corrected the ratings for certain financial instrumentality entities of Banco Popular Español S.A. (Banco Popular or the Group). The correction to these ratings corresponds with the downgrade of the Group’s Senior Long-Term Unsecured Debt & Deposit rating to AA from AA (high) on 30 January 2009 following the release of Banco Popular’s Q4 and full year 2008 results. When the Group’s ratings were downgraded, the ratings of these financial instrumentality entities were not appropriately downgraded.

The changes to the ratings have been made, and a comprehensive rating table for the issuer is included below. The 30 January 2009 press release can be accessed by clicking on the link below or by contacting us at info@dbrs.com.

Notes:
All figures are in euros unless otherwise noted.

The applicable methodologies are, Analytical Background and Methodology for European Bank Ratings, Second Edition and Enhanced Methodology for Bank Ratings – Intrinsic and Support Assessments, which can be found on our website under Methodologies.

This is a Corporate (Financial Institutions) rating.