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Banco Bilbao Vizcaya Argentaria Puerto Rico Feb 11
Standard & Poors, Feb 2011
Abstract
Marginally adequate capital ratios. High-quality investment portfolio. Strategic importance to its highly rated parent. Very weak loan performance. Mediocre operating performance. High reliance on borrowed funds. Geographic concentration in Puerto Rico. Standard & Poor's Ratings Services' ratings on Banco Bilbao Vizcaya Argentaria Puerto Rico (BBVA PR) reflect the bank's very weak loan performance, marginally profitable operations, and high reliance on wholesale funding. The ratings also reflect the bank's business and loan concentration in the economically depressed and highly competitive Puerto Rico market. However, the bank's marginally adequate capital ratios and high-quality investment portfolio partially offset these weaknesses, in our opinion. The counterparty credit rating on BBVA PR is three notches above our stand-alone credit assessment of the bank, which reflects...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA USA Bancshares Inc.,Compass Bank,BBVA Bancomer S.A.,Banco Bilbao Vizcaya Argentaria S.A.,Compass Loan Holdings Inc.,Banco Bilbao Vizcaya Argentaria Uruguay,BBVA Panama S.A. y Subsidiarias,Banco Bilbao Vizcaya Argentaria Paraguay S.A.
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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