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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

  • ID: 1869445
  • 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 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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.

Note: Product cover images may vary from those shown

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

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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