Spanish Banco Bilbao Vizcaya Argentaria Ratings Affirmed Following Review; Outlook Remains Stable

We expect Spanish Banco Bilbao Vizcaya Argentaria S.A. (BBVA) to continue to build up capital over this year and next, in order to be able to achieve its revised fully loaded common equity Tier 1 (CET1) target of 11% by the end of 2017. Relative to the risks that BBVA undertakes, capital remains a ratings strength for the bank. We are affirming our 'BBB+' long-term and 'A-2' short-term ratings on BBVA. The stable outlook reflects our expectation that all factors driving our ratings are unlikely to change over the next 18-24 months. MADRID (S&P Global Ratings) July 20, 2016--S&P Global Ratings said today that it affirmed its 'BBB+' long-term and 'A-2' short-term counterparty credit ratings on Spanish bank Banco Bilbao

...+ We expect Spanish Banco Bilbao Vizcaya Argentaria S.A. (BBVA) to continue to build up capital over this year and next, in order to be able to achieve its revised fully loaded common equity Tier 1 (CET1) target of 11% by the end of 2017. + Relative to the risks that BBVA undertakes, capital remains a ratings strength for the bank. + We are affirming our '###+' long-term and 'A-2' short-term ratings on BBVA. + The stable outlook reflects our expectation that all factors driving our ratings are unlikely to change over the next 18-24 months. MADRID (S&P Global Ratings) July 20, 2016--S&P Global Ratings said today that it affirmed its '###+' long-term and 'A-2' short-term counterparty credit ratings on Spanish bank Banco Bilbao Vizcaya Argentaria S.A. (BBVA) and its core subsidiary BBVA Global Markets B.V. The outlook is stable. Our ratings on BBVA remain supported by the bank's strong and geographically diversified retail banking profile, sound and resilient operating profitability, and solid...

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