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Summary: Banco Bilbao Vizcaya Argentaria, Chile y Filiales May 11
Standard & Poors, May 2011
Abstract
Standard & Poor's Ratings Services' ratings on Banco Bilbao Vizcaya Argentaria, Chile y Filiales (BBVA Chile) mainly reflect its healthy asset quality indicators and good market position as the sixth-largest bank, in loans, in the Chilean banking system. The ratings also consider that BBVA Chile is a strategically important subsidiary of Banco Bilbao Vizcaya Argentaria S.A. (BBVA; AA/Negative/A-1+), and the financial flexibility this relationship provides. The rating on BBVA Chile reflects one notch of support from its parent. The bank's lower-than-average profitability, funding profile concentrated in institutional investors, low capitalization, and high competitive pressures from stronger banks counterbalance the positive factors. BBVA Chile's strategically important status according to our group methodology reflects several factors, including BBVA's majority ownership of the...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Chile y Filiales,Banco Bilbao Vizcaya Argentaria 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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
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