PARIS (Standard&Poor's CreditWire) March 10, 2000--Standard&Poor's today placed its ratings on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), Spain's second-largest bank, and its related entities on CreditWatch with negative implications following the announcement of the group's intention to merge its Mexican subsidiary, Grupo Financiero BBV-Probursa, with another Mexican group, Grupo Financiero Bancomer. The merger is subject to the approval of the boards of directors of both institutions and local regulators, as well as to the completion of due diligence. (See list below for all ratings affected.) Under the terms of the proposed deal, the merger would be preceded by an increase in the equity of Grupo Financiero BBV-Probursa by raising US$600 million of fresh capital. After the
