Standard&Poor's Ratings Services affirmed its double–'A'-minus long-term and 'A-1'-plus short-term counterparty credit ratings on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) on July 24, 2002. The outlook remains negative. The ratings on BBVA reflect the balance between the bank's strong domestic franchise and financial profile, and the heightened risk resulting from its exposure to Latin America. With the merger of the former Banco Bilbao Vizcaya S.A. (BBV) and Argentaria, Caja Postal y Banco Hipotecario, S.A. (Argentaria) completely finished, BBVA maintains a diversified and strong position in all segments of Spanish banking. Although the group has lost some market share during the past two years, it has achieved a cohesive and efficient network that will be able to continue growing.
