LONDON (Standard&Poor's) June 11, 2012--Standard&Poor's Ratings Services said today that the Spanish government's decision to seek up to €100 billion from eurozone member states to recapitalize its banks has no immediate effect on our ratings on Spain (BBB+/Negative/A-2). The amount of funds Spain is seeking covers our estimate of the provisioning shortfall in both our base case and a scenario of accelerated recognition of 2012-2013 credit losses (see "The Timing Of Recognition Of Mounting Loan Losses Could Push Spanish Banks Over The Edge," June 7, 2012) and our expectations when we downgraded Spain on April 26, 2012 (see Ratings On Spain Lowered To 'BBB+/A-2' On Debt Concerns; Outlook Negative"). We expect the final amount, which will
