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

We have reviewed the performance of BBVA Consumer Auto 2020-1 by conducting our credit and cash flow analysis and applying our relevant criteria. Following our review, we raised our ratings on the class C-Dfrd and D-Dfrd notes. At the same time, we affirmed our ratings on the class A, B-Dfrd, and E-Dfrd notes. BBVA Consumer Auto 2020-1 securitizes a portfolio of Spanish auto loans that BBVA originated. The underlying assets are monthly paying fixed-rate auto loans to the BBVA's private customers base, resident in Spain. MADRID (S&P Global Ratings) May 22, 2023--S&P Global Ratings today raised to 'A (sf)' from 'A- (sf)' and to 'A- (sf)' from 'BBB+ (sf)' its credit ratings on BBVA Consumer Auto 2020-1 Fondo de Titulizacion's

...- We have reviewed the performance of BBVA Consumer Auto 2020-1 by conducting our credit and cash flow analysis and applying our relevant criteria. - Following our review, we raised our ratings on the class C-Dfrd and D-Dfrd notes. At the same time, we affirmed our ratings on the class A, B-Dfrd, and E-Dfrd notes. - BBVA Consumer Auto 2020-1 securitizes a portfolio of Spanish auto loans that BBVA originated. The underlying assets are monthly paying fixed-rate auto loans to the BBVA's private customers base, resident in Spain. MADRID (S&P Global Ratings) May 22, 2023--S&P Global Ratings today raised to 'A (sf)' from 'A- (sf)' and to 'A- (sf)' from '###+ (sf)' its credit ratings on BBVA Consumer Auto 2020-1 Fondo de Titulizacion's class C-Dfrd and D-Dfrd notes, respectively. At the same time, we affirmed our '## (sf)', 'A- (sf)', and '##+ (sf)' ratings on the class A, B-Dfrd, and E-Dfrd notes, respectively. Our ratings address the timely payment of interest and the ultimate payment of principal...

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