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Banco Bilbao Vizcaya Argentaria, S.A. Jul 10
Standard & Poors, July 2010
Abstract
Strong market positions in almost all of its markets, particularly Spain and Mexico. Conservative strategy and corporate culture. Sound credit risk management. Above-average, resilient operating profitability. Higher-than-peer reliance on emerging markets. Deterioration in asset quality. Lower diversification than for some other similarly rated peers. The ratings on Spain-based Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) reflect Standard & Poor's Ratings Services' view of the bank's strong franchise in its key markets, resilient financial performance, and conservative strategy. In our opinion, BBVA's comparatively good performance and sound credit risk management are counterbalanced by its lower diversification than for other 'AA' rated peers and comparatively higher reliance on emerging markets. BBVA has maintained resilient operating earnings, outperforming peers through the downturn. BBVA has...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,BBVA USA Bancshares Inc.,Compass Bank,BBVA Bancomer S.A.,Compass Loan Holdings Inc.,Banco Bilbao Vizcaya Argentaria Uruguay,Banco Bilbao Vizcaya Argentaria Puerto Rico,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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