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Banco Bilbao Vizcaya Argentaria Puerto Rico Feb 10
Standard & Poors, Feb 2010
Abstract
Diversified lending activities High-quality investment portfolio Adequate capital ratios Strategic importance to its highly rated parent Significant credit deterioration in its loan portfolio Unprofitable operations 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 significant and rapid credit deterioration within its loan portfolio, unprofitable operations, and high reliance on wholesale funding. The ratings also reflect the bank's concentration in the economically depressed and highly competitive Puerto Rico market. However, its diversified lending activities, high-quality investment portfolio, and adequate capital ratios partially offset these weaknesses. The counterparty credit rating on BBVA PR is three notches above our stand-alone credit assessment of the...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA USA Bancshares Inc.,Compass Bank,Banco Bilbao Vizcaya Argentaria S.A.,Compass Loan Holdings Inc.,Banco Bilbao Vizcaya Argentaria Uruguay,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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