On July 21, 2014, BBVA announced that it had reached an agreement with the Spanish Banking Restructuring Fund (FROB) to acquire its stake in Spanish bank Catalunya Banc for a total amount of €1,187 million. We believe that the acquisition is likely to have limited impact on BBVA's financial profile. We are therefore affirming our 'BBB/A-2' long- and short-term ratings on BBVA. The outlook on BBVA remains stable and mirrors that on Spain. MADRID (Standard&Poor's) July 24, 2014--Standard&Poor's Ratings Services said today that it affirmed its 'BBB/A-2' long- and short-term counterparty credit ratings on Spain-based Banco Bilbao Vizcaya Argentaria S.A. (BBVA). The outlook on the long-term rating remains stable. The affirmation follows BBVA's announcement on July
