Madrid, May 19, 2014 -- Moody's Investors Service has today upgraded to Ba2 from Ba3 the government-guaranteed debt ratings of 3 Portuguese banks: Caixa Geral de Depositos, S.A. (CGD), Banco Espirito Santo, S.A. (BES), and BANIF-Banco Internacional do Funchal, S.A.(Banif). At the same time, the ratings of the government-guaranteed debt of these banks has been placed on review for further upgrade.

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