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Argentine Crisis Prompts Outlook Change to Negative on Banco Bilbao Vizcaya Argentaria Apr 02
Standard & Poors, April 2002
Abstract
MADRID (Standard & Poor's) April 4, 2002--Standard & Poor's said today that it has revised its outlook to negative from stable on Banco Bilbao Vizcaya Argentaria S.A. (BBVA), based on the potential impact on the Spanish bank's risk profile of the continuing fragile situation regarding Argentina's financial system. At the same time, Standard & Poor's affirmed its double-'A'-minus long-term and 'A-1'-plus short-term counterparty credit ratings on BBVA. 'Although the bank made substantial provisions in 2001--enough to cover in full the book value of its subsidiary in Argentina, Banco Frances--a prolonged crisis in Argentina could increase the risk BBVA faces there, as demonstrated by the recently announced US$150 million facility to be provided by the bank to its Argentine subsidiary,' said...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,Telefonica S.A.,Repsol-YPF S.A.,Argentina (Republic of) (Unsolicited Ratings)
Action: Outlook Revised
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.
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