Microsoft Word - 20150924 HR BKIA_Rating CHs_DBRS_EN.docx MATERIAL DISCLOSURE

Pursuant to article 82 of Law 24/1988 of 28 July on the Securities Market, Bankia, S.A. hereby reports that
after a full review of the rating of Bankia's
mortgage covered bonds, the credit rating agency DBRS
Ratings Limited ("DBRS") has ratified said mortgage covered bonds with an "A (high )" rating.
The rating does however remain under review with developing implications due to DBRS's review of the implications of recent regulatory developments in European legislation concerning the Bank Recovery
and Resolution Directive (BRRD).
The above is notified as a material disclosure for all pertinent purposes.
Madrid, 24 September 2015
BANKIA, S.A.

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