Fitch situation the 'rating' of the negative outlook BBK and leaves of CajaSur in positive surveillance.

Fitch has placed the 'rating' of the negative outlook BBK ahead of a possible cut after the acquisition of CajaSur, while supervision remains positive ratings Cordoba box operated by the Banco de Espana.

The agency risk analysis reported on Thursday that this decision reflects the possibility of a cut in one step in the notes to long-term (A +) and short-term, aika gold, (A / B) of BBK, to the risks that entails the integration of CajaSur for its large size and financial weakness.

Also, the change of perspective occurs in an environment of economic prospects in Spain and the construction sector and real estate weakness, in which the pace of recovery remains uncertain, Fitch believes.

In his view, the purchase of, ffxiv gil, controlled entity in its day in the Catholic Church will negatively impact on capital ratios of the BBK, which, however, manage to maintain at adequate levels.

A lack of integration of the operation in BBK CajaSur receive the 'green light' relevance to their respective boards of directors, Fitch considers it likely that the transaction is completed successfully.

Keeping the perspective of the 'rating' of, sto credits, CajaSur reflects the possibility of an upward revision to the support that the savings will receive a result of his integration in BBK.

For Fitch, the Basque box has adequate financial and management capacity to meet the challenges associated with the purchase of CajaSur, while benefiting from its strong sales network in one of the richest regions of Spain.

Also CajaSur will contribute to the size of the BBK on a stage of consolidation of the Spanish financial sector and enhance its geographic coverage in Andalucia, especially in the provinces of Cordoba and Jaen, where the Basque has little presence.

Although the firm adventure that the operation of integration will have negative results in terms of restructuring costs in the short term, cost and revenue synergies potentially help support the behavior of the medium-term BBK.

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