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Banco Bilbao Vizcaya Argentaria Uruguay 'BB/B' Counterparty Credit Ratings Affirmed; Outlook Remains Stable Apr 11
Standard & Poors, April 2011
Abstract
The ratings on BBVA Uruguay reflect an ample financial position and explicit support from its parent, BBVA. We are affirming our ratings on BBVA Uruguay, including the 'BB/B' counterparty credit ratings. The outlook remains stable. We expect that BBVA Uruguay will increase its intermediation in Uruguay, given its active management strategy. BUENOS AIRES (Standard & Poor's) April 27, 2011--Standard & Poor's Ratings Services said today that it affirmed its ratings, including the 'BB/B' counterparty credit ratings, on Banco Bilbao Vizcaya Argentaria S.A. (BBVA Uruguay). The outlook remains stable. 'Standard & Poor's ratings on BBVA Uruguay reflect the bank's low profitability--currently affected by acquisition costs--and the high dollarization and low intermediation in the Uruguayan financial system,' said Standard & Poor's credit...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Uruguay,Banco Bilbao Vizcaya Argentaria S.A.
Action: Affirmed
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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