|
|
 |
|
Viewing report
|
|
|
|
BBVA And Banco de Credito Local Affirmed At 'AA-/A-1+' On Compass Purchase; Outlooks Positive Feb 07
Standard & Poors, Feb 2007
Abstract
MADRID (Standard & Poor's) Feb. 16, 2006--Standard & Poor's Ratings Services said today that it has affirmed its 'AA-' long-term and 'A-1+' short-term counterparty credit ratings on Spain's second-largest bank, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), and its subsidiary Banco de Cr-dito Local de Espa-a S.A. after BBVA's announcement today of its acquisition of U.S.-based Compass Bancshares, Inc. for -7.5 billion. The outlook on both banks is positive. International expansion through acquisitions, mostly in the U.S., but also in Asia, gives BBVA the possibility of further expanding its business and diversifying its revenues. We expect BBVA to remain cautious in its expansion to minimize the potential problems of rapid growth in the competitive and sophisticated U.S. market. In addition, the...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,BBVA USA Bancshares Inc.,Banco de Credito Local de Espana S.A.
Action: Affirmed
Action: Outlook: Positive
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.
|
|
|
|
