(The following statement was released by the rating agency)

Nov 23 -

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Ratings -- Banco de Sabadell S.A. --------------------------------- 23-Nov-2012

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CREDIT RATING: BB/Negative/B Country: Spain

Primary SIC: Commercial banks,

nec

Mult. CUSIP6: 059568

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Credit Rating History:

Local currency Foreign currency

15-Oct-2012 BB/B BB/B

30-Apr-2012 BB+/B BB+/B

13-Feb-2012 BBB-/A-3 BBB-/A-3

15-Dec-2011 BBB/A-2 BBB/A-2

11-Oct-2011 A-/A-2 A-/A-2

04-Mar-2009 A/A-1 A/A-1

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Issues:

Guarantor(s) : Spain (Kingdom of)

Rating Rating Date

EUR1.5 bil 5.44% nts due 12/22/2014 BBB- 10-Oct-2012

EUR10 bil med-term note Prog 01/04/2000: sr

unsecd BB 15-Oct-2012

EUR50 mil fltg rate med-term nts ser III due

10/04/2016 BB 15-Oct-2012

EUR150 mil fltg rate nts ser IV-2009 due

12/28/2012 BB 15-Oct-2012

EUR600 mil 4.25% med-term nts due 03/29/2013 BB 15-Oct-2012

EUR300 mil 4.20% med-term nts due 08/27/2013 BB 15-Oct-2012

EUR250 mil 4.25% med-term nts ser II/2012 due

05/04/2014 BB 15-Oct-2012

EUR500 mil 4.00% med-term nts ser I/2012 due

05/04/2013 BB 15-Oct-2012

EUR300 mil 4.20% med-term nts ser Mayo II/2012

due 12/27/2013 BB 15-Oct-2012

EUR300 mil 4.20% med-term nts ser Mayo I/2012

due 06/27/2013 BB 15-Oct-2012

EUR10 bil med-term note Prog 01/04/2000: sub B- 23-Nov-2012

EUR353.5 mil fltg rate sub callable nts ser

1/2006 due 05/25/2016 B- 23-Nov-2012

EUR500 mil 6.25% med-term nts ser 1/2010 due

04/26/2020 B- 23-Nov-2012

EUR40.4 mil fltg rate med-term nts due

02/25/2021 B- 23-Nov-2012

EUR49.2 mil var rate fxd/fltg rate callable

perp pfd stk ser 1/2006 CCC 23-Nov-2012

EUR500 mil 6.50% ser 1/2009 CCC 23-Nov-2012

EUR10 bil med-term note Prog 01/04/2000: S-T

debt B 30-Apr-2012

EURO CP prog auth amt EUR3.5 bil B 30-Apr-2012

(Bangalore Ratings Team, Hotline: +91 80 4135 5898, Bhanu.priya@thomsonreuters.com, Group id: BangaloreRatings@thomsonreuters.com, Reuters Messaging: Bhanu.Priya.reuters.com@reuters.net)

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