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Banco Bilbao Vizcaya Argentaria Puerto Rico Jan 09
Standard & Poors, Jan 2009
Abstract
Relatively stable profitability Diversified lending activities High-quality investment portfolio Strategic importance to its highly rated parent Notable deterioration in credit quality High reliance on borrowed funds Decline in loan loss reserves relative to total nonperforming assets Geographic concentration in Puerto Rico Standard & Poor's Ratings Services' ratings on Banco Bilbao Vizcaya Argentaria Puerto Rico (BBVA PR) reflect its diversified lending activities, conservative underwriting policies, high-quality investment portfolio, and adequate capital ratios. The ratings also reflect our view of the company's good competitive niche position in the highly competitive Puerto Rican market. The counterparty credit rating on BBVA PR is two notches above our stand-alone rating on the company, which reflects our view of its strategic importance to its highly rated...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA USA Bancshares Inc.,Compass Bank,Banco de Credito Local de Espana S.A.,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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