MADRID (Standard&Poor's) June 5, 2003--Standard&Poor's Ratings Services said today that it has revised its outlooks to stable from negative on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), one of the two largest banks in Spain, and its fully owned subsidiary Banco de Credito Local de España, S.A. At the same time, the 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on both banks were affirmed. "The outlook revisions reflect diminishing risk from the group's Latin American investments," said Standard&Poor's credit analyst Jesús Martinez. The ratings on BBVA reflect the bank's strong domestic franchise and financial performance, reduced risk from Latin America, and conservative risk profile. BBVA maintains a diversified and strong position in all segments
