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Various Rating Actions Taken In Six Of BBVA's Spanish SME ABS Securitizations Nov 10 Product Image

Various Rating Actions Taken In Six Of BBVA's Spanish SME ABS Securitizations Nov 10

  • Published: November 2010
  • Region: Spain
  • Standard & Poors

Abstract
OVERVIEW We have reviewed six BBVA-originated Spanish ABS SME transactions. We have lowered our ratings on 18 tranches and affirmed our ratings on seven tranches. Loans that BBVA granted to Spanish SMEs comprise the pools that back each transaction. LONDON (Standard & Poor's) Nov. 10, 2010--Standard & Poor's Ratings Services today took various rating actions on all classes of notes in six Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) transactions. The six transactions are securitizations of loans granted to Spanish small and midsize enterprises (SMEs). Specifically, we have: Lowered our ratings on BBVA-4 PYME Fondo de Titulizacion de Activos' (BBVA 4) class B notes and BBVA-5 FTPYME Fondo de Titulizacion de Activos' (BBVA 5) class A1, A2, and A3(G) notes; Lowered...

Companies mentioned in this report are:
- BBVA-4 PYME Fondo de Titulizacion de Activos
- BBVA-5 FTPYME Fondo de Titulizacion de Activos
- BBVA-6 FTPYME Fondo de Titulizacion de Activos
- BBVA Empresas 1, Fondo de Titulizacion de Activos
- BBVA-7 FTGENCAT Fondo de Titulizacion de Activos
- BBVA-8 FTPYME Fondo de Titulizacion de Activos

Action: Affirmed
Action: Downgraded
Action: READ MORE >

- BBVA-4 PYME Fondo de Titulizacion de Activos
- BBVA-5 FTPYME Fondo de Titulizacion de Activos
- BBVA-6 FTPYME Fondo de Titulizacion de Activos
- BBVA Empresas 1, Fondo de Titulizacion de Activos
- BBVA-7 FTGENCAT Fondo de Titulizacion de Activos
- BBVA-8 FTPYME Fondo de Titulizacion de Activos

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