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Banco Bilbao Vizcaya Argentaria Puerto Rico Jan 08
Standard & Poors, Jan 2008
Abstract
Diversified lending activities Conservative credit underwriting policies Demonstrated parental support High-quality investment portfolio Slight deterioration in credit quality Modest decline in profitability in recent years Geographic concentration in Puerto Rico High and increasing reliance on borrowed funds 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 its adequate capital ratios. The counterparty credit rating, which is three notches above its standalone rating, also reflects BBVA PR's strategic importance to its highly rated majority shareholder, Banco Bilbao Vizcaya Argentaria S.A. (AA-/Stable/A-1+). However, the ratings are tempered by a slight deterioration in credit quality, a modest decline in profitability, and a heavy reliance on...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Puerto Rico,BBVA USA Bancshares Inc.,Compass Bank,Federal Home Loan Bank of New York,Popular Inc.,Banco de Credito Local de Espana S.A.,BBVA Bancomer S.A.,Compass Trust I ,Banco Bilbao Vizcaya Argentaria S.A.,Compass Loan Holdings Inc.,Compass Trust III,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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