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Ratings Lowered On Class A And B Notes In BBVA Consumo 3's Spanish ABS Transaction Jul 10 Product Image

Ratings Lowered On Class A And B Notes In BBVA Consumo 3's Spanish ABS Transaction Jul 10

  • Published: July 2010
  • Region: Spain
  • Standard & Poors

Abstract
OVERVIEW Today's rating actions follow a review of the transaction's performance and an updated credit and cash flow analysis. We have lowered our ratings on all classes of notes in this transaction. A pool of consumer loans originated by BBVA and BBVA Finanzia backs the notes in this transaction. MADRID (Standard & Poor's) July 19, 2010--Standard & Poor's Ratings Services today lowered and removed from CreditWatch negative its credit ratings on the class A and B notes in BBVA Consumo 3 Fondo de Titulizacion de Activos (see list below). Today's rating actions follow a credit and cash flow analysis of the most recent transaction information we have received. The current outstanding balance is about 62.1% of the issuance balance. BBVA...

Companies mentioned in this report are:
- BBVA Consumo 3 Fondo de Titulizacion de Activos
- Banco Bilbao Vizcaya Argentaria S.A.

Action: Downgraded
Action: Removed From CreditWatch

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 READ MORE >

- BBVA Consumo 3 Fondo de Titulizacion de Activos
- Banco Bilbao Vizcaya Argentaria S.A.

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