S&P Global Ratings said today that  its ratings and outlooks on all Spanish banks, including CaixaBank S.A. and  Banco de Sabadell S.A., remain unchanged following the escalation of political  risks and social unrest in Catalonia in the wake of the independence  referendum held last Sunday....

Over the last few days and weeks, as the odds of a vote to leave in the referendum have moved from a remote possibility to somewhat less so, market participants have spent more and more time wondering about how they are positioned going into the vote, relative to their benchmark, their peer group, or their risk budget...

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