Home Credit Ratings and Research Residential Mortgage-Backed Securities S&P Global Ratings’ Credit Research Banco Bilbao Vizcaya Argentaria S.A.

Research Update: Spanish Bank BBVA Downgraded To 'A+/A-1' On Bank Criteria Change; Outlook Negative

Published Nov 29, 2011

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About This Report

Abstract:

Following a review under Standard&Poor's revised bank criteria (published on Nov. 9, 2011), we have lowered to 'A+/A-1' from 'AA-/A-1+' our ratings on Banco Bilbao Vizcaya Argentaria S.A. (BBVA). In accordance with our updated hybrid criteria, we have lowered our ratings on BBVA's dated subordinated debt to 'A-' from 'A+', and lowered our ratings on Tier 1 hybrid notes to 'BBB' from 'BBB+'. Other rating actions on debt issues and subsidiaries are listed below. Our ratings on BBVA reflect a 'bbb' anchor for the bank and our view of its strong business position, very strong risk position, adequate capital and earnings, above average funding, and adequate liquidity, as our criteria define these terms. The ratings on BBVA incorporate

Report Type:

Research Update

Ticker

BBVA@SM

Issuer

Banco Bilbao Vizcaya Argentaria S.A.

GICS

Diversified Banks (40101010)

Sector

Global Issuers, Public Finance, Structured Finance

Country

Spain

Region

United States

Format:

PDF

Rating Lowered On BBVA's Public-Sector Covered Bond After Spain Downgrade; Negative Outlook Assigned – 2012/01/31 – US$ 150.00

Research Update: Spain's BBVA Downgraded To 'A/A-1' Following Sovereign Action And Revised BICRA; Outlook Negative – 2012/02/13 – US$ 225.00

Ratings On 15 Spanish Financial Institutions Lowered Following Sovereign Downgrade And BICRA Revision – 2012/02/13 – US$ 150.00

Spain's BBVA 'A/A-1' Ratings Affirmed Following News Of Unnim Acquisition; Outlook Remains Negative – 2012/03/13 – US$ 150.00

Research Update: Spain's BBVA 'A/A-1' Ratings Affirmed Following News Of Unnim Acquisition; Outlook Remains Negative – 2012/03/13 – US$ 225.00

Banco Bilbao Vizcaya Argentaria S.A. – 2011/10/21 – US$ 500.00

Summary: Banco Bilbao Vizcaya Argentaria S.A. – 2011/10/21 – US$ 225.00

Rating Lowered On BBVA's U.S. Dollar Public-Sector Covered Bond; Outlook Negative – 2011/10/19 – US$ 150.00

Ratings Lowered On BBVA's Public-Sector Covered Bonds; Outlook Negative – 2011/05/13 – US$ 150.00

Rating Affirmed On BBVA's Public-Sector Covered Bonds Following Review; Stable Outlook Assigned – 2011/02/07 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Research Update: Spanish Bank BBVA Downgraded To 'A+/A-1' On Bank Criteria Change; Outlook Negative" Nov 29, 2011. Alacra Store. May 08, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Spanish-Bank-BBVA-Downgraded-To-A-A-1-On-Bank-Criteria-Change-Outlook-Negative-917803>

APA:	S&P Global Ratings’ Credit Research. (). Research Update: Spanish Bank BBVA Downgraded To 'A+/A-1' On Bank Criteria Change; Outlook Negative Nov 29, 2011. New York, NY: Alacra Store. Retrieved May 08, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Research-Update-Spanish-Bank-BBVA-Downgraded-To-A-A-1-On-Bank-Criteria-Change-Outlook-Negative-917803>

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