Moody’s Warns of a Ratings Risk for Companies in the Retail, Hotel and Office Sectors
The agency forecasts that companies in Europe will suffer an increase in arrears until 2022, with those in Spain experiencing the second-largest impact, behind Italy, with a ratio of 5%.
Bankia Cancels the Sale of a Residential Portfolio Due to Economic Uncertainty
The portfolio of flats for sale had been valued at 190 million euros.
The Covid Crisis Will Cause the Defaulted Loan Balance to Soar by €80 Billion
Investors expect that at least 50% of the loans granted to overcome the pandemic will go bad, which will raise the default rate to 7%.
BBVA Sells a €700 Million Portfolio of Loans and Assets from Unnim to KKR
The entity has sold a portfolio of loans and toxic real estate assets from Unnim, with a gross value of 700 million euros, to the fund KKR.