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Banco Bilbao Vizcaya Argentaria Uruguay May 06
Standard & Poors, May 2006
Abstract
High financial flexibility due to the bank's high liquidity and the support of its parent High efficiency as a result of the bank's rationalization process following the Uruguayan crisis Still-weak operating environment in Uruguay Margin pressures derived from a low interest rate environment and soft lending activity in Uruguay The ratings on Banco Bilbao Vizcaya Argentaria Uruguay (BBVA Uruguay) reflect the bank's comfortable financial position and the explicit support from its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA; AA-/Stable/A-1+). This support became evident with the implementation of contingent liquidity lines during the financial crisis and the increase in ownership to 100% of the Uruguayan subsidiary in June 2002. The bank currently enjoys high liquidity and adequate capitalization. On the other...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Uruguay,BBVA Global Finance Ltd.,Banco de Credito Local de Espana S.A.,BBVA Capital Funding Ltd.,Banco Bilbao Vizcaya Argentaria S.A.,Banco Bilbao Vizcaya Argentaria Puerto Rico,BCL Global Funding, B.V.,BBVA Senior Finance B.V.,BBVA Subordinated Capital B.V.,BBVA America Finance, S.A. Unipersonal,BBVA Senior Finance, S.A. Unipersonal,BBVA Subordinated Capital, S.A. Unipersonal,BBVA Panama S.A. y Subsidiarias
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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