Fitch downgrades a number of Spanish banks, including BBVA (from A+ to A), a move made necessary...

|By:, SA News Editor
Fitch downgrades a number of Spanish banks, including BBVA (from A+ to A), a move made necessary by the downgrade of Spain last month. "Fitch believes there is a close link between bank and sovereign credit risk ... and it is unusual for banks to be rated above their domestic sovereigns."