DBRS Withdraws Banco Pastor S.A.’s Senior Unsecured and Short-Term Debt Ratings

DBRS, Inc. (DBRS) has today withdrawn Banco Pastor, S.A.’s (Banco Pastor or the Bank) Senior Long-Term Debt & Deposit rating and Short-Term Debt & Deposit rating. Banco Pastor ceased to exist as an independent legal entity upon completion of its merger with Banco Popular Español, S.A. (Banco Popular Español) at the end of June 2012. Today’s action does not affect Banco Popular Español Senior Unsecured Long-Term Debt & Deposit rating, which remains at A (low) with a Negative trend.

Notes:
All figures are in EUR unless otherwise noted.

The principal applicable methodology is the Global Methodology for Rating Banks and Banking Organisations. Other methodologies used include the DBRS Criteria – Intrinsic and Support Assessments. Both can be found on the DBRS website under Methodologies.

The sources of information used for this rating include company documents and SNL Financial. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

This rating is endorsed by DBRS Ratings Limited for use in the European Union.

Lead Analyst: Lisa Kwasnowski
Approver: Alan G. Reid
Initial Rating Date: 1 March 2012
Most Recent Rating Update: 10 August 2012

For additional information on this rating, please refer to the linking document under Related Research.