BBVA Consumer Auto 2020-1 Spanish ABS Auto Loans Ratings Raised On Three Classes; Two Classes Affirmed

We have reviewed BBVA Consumer Auto 2020-1's performance by analyzing the transaction's underlying assets and structural features following the publication of the revised criteria for rating global auto ABS transactions. Following our review, we raised our ratings on the class B-Dfrd, D-Dfrd, and E-Dfrd notes. At the same time, we affirmed our ratings on the class A and C-Dfrd notes. We also removed the under criteria observation (UCO) identifier from the ratings on the class D-Dfrd and E-Dfrd notes. MADRID (S&P Global Ratings) May 31, 2022--S&P Global Ratings today raised to 'AA- (sf)' from 'A+ (sf)', to 'BBB+ (sf)' from 'BB+ (sf)', and to 'BB+ (sf)' from 'B+ (sf)' our credit ratings on BBVA Consumer Auto 2020-1 Fondo de Titulizacion's

...- We have reviewed BBVA Consumer Auto 2020-1's performance by analyzing the transaction's underlying assets and structural features following the publication of the revised criteria for rating global auto ABS transactions. - Following our review, we raised our ratings on the class B-Dfrd, D-Dfrd, and E-Dfrd notes. - At the same time, we affirmed our ratings on the class A and C-Dfrd notes. - We also removed the under criteria observation (UCO) identifier from the ratings on the class D-Dfrd and E-Dfrd notes. MADRID (S&P Global Ratings) May 31, 2022--S&P Global Ratings today raised to '##- (sf)' from 'A+ (sf)', to '###+ (sf)' from '##+ (sf)', and to '##+ (sf)' from 'B+ (sf)' our credit ratings on BBVA Consumer Auto 2020-1 Fondo de Titulizacion's class B-Dfrd, D-Dfrd, and E-Dfrd notes, respectively. We also affirmed our '## (sf)' and 'A- (sf)' ratings on the class A and C-Dfrd notes, respectively We removed the under criteria observation (UCO) identifier from the ratings on the class D-Dfrd...

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