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Banco Bilbao Vizcaya Argentaria Uruguay May 11
Standard & Poors, May 2011
Abstract
Ample financial flexibility resulting from the proved support of its parent Healthy asset quality Good market position after the acquisition of Credit Uruguay Low intermediation and high dollarization in the Uruguayan financial system Expected pressure on profitability in 2011 because of higher costs associated with a recent acquisition Challenges related to the integration of both entities after the acquisition Standard & Poor's Ratings Services' ratings on Banco Bilbao Vizcaya Argentaria Uruguay (BBVA Uruguay) reflect the bank's low profitability--currently affected by acquisition costs--and high dollarization and low intermediation in the Uruguayan financial system. The bank's healthy asset quality, good market position, and explicit support from its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA; AA/Negative/A-1+), somewhat offset the negative factors. We consider...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Uruguay,BBVA USA Bancshares Inc.,Compass Bank,BBVA Bancomer S.A.,Banco Bilbao Vizcaya Argentaria S.A.,Compass Loan Holdings Inc.,Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA Panama S.A. y Subsidiarias,Banco Bilbao Vizcaya Argentaria Paraguay S.A.,Banco Bilbao Vizcaya Argentaria Chile y Filiales
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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