BBVA's Mortgage Covered Bonds Outlook Revised To Stable After Similar Action On Spain; Ratings Affirmed

On March 18, 2022, we affirmed our unsolicited 'A/A-1' long- and short-term sovereign credit ratings on Spain, and revised the outlook on the ratings to stable from negative. Following this action and the application of our criteria, we affirmed our 'AA+' ratings on BBVA's mortgage covered bonds. We also revised the outlook on the ratings to stable from negative. Our outlook on the ratings reflects the stable outlook on our long-term sovereign rating on Spain. MADRID (S&P Global Ratings) March 28, 2022--S&P Global Ratings today revised to stable from negative its outlook on the credit ratings on Banco Bilbao Vizcaya Argentaria S.A.'s (BBVA) mortgage covered bond program and related issuances ("cédulas hipotecarias"). We have also affirmed our 'AA+' ratings on

...- On March 18, 2022, we affirmed our unsolicited 'A/A-1' long- and short-term sovereign credit ratings on Spain, and revised the outlook on the ratings to stable from negative. - Following this action and the application of our criteria, we affirmed our '##+' ratings on BBVA's mortgage covered bonds. We also revised the outlook on the ratings to stable from negative. - Our outlook on the ratings reflects the stable outlook on our long-term sovereign rating on Spain. MADRID (S&P Global Ratings) March 28, 2022--S&P Global Ratings today revised to stable from negative its outlook on the credit ratings on Banco Bilbao Vizcaya Argentaria S.A.'s (BBVA) mortgage covered bond program and related issuances ("cTdulas hipotecarias"). We have also affirmed our '##+' ratings on the covered bonds. Today's rating action follow our March 18, 2022 action on Spain (see "Spain Outlook Revised To Stable From Negative On Balanced Growth; 'A/A-1' Ratings Affirmed"). Our ratings on BBVA's mortgage covered bonds...

Ratings Action