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Banco Bilbao Vizcaya Argentaria Uruguay Jun 03
Standard & Poors, June 2003
Abstract
The ratings on Banco Bilbao Vizcaya Argentaria Uruguay (BBVA Uruguay) are constrained by the ratings on the Uruguayan sovereign. In the past year, the bank's risk profile has improved as the result of an important reduction of its direct and indirect exposure to Argentine risk. In this respect, the support of its parent, Banco Bilbao Vizcaya Argentaria S.A. (BBVA), became evident through the implementation of contingent liquidity lines amid deposit runs and the achievement of full ownership of its Uruguayan subsidiary in June 2002. The ratings also consider the still prevailing uncertainty in Uruguay's financial market. BBVA Uruguay is the fifth-largest Uruguayan private bank in terms of deposits and loans, and the largest by equity. As of Dec. 31 2002,...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria Uruguay,BBVA Global Finance Ltd.,Banco de Credito Local de Espana S.A.,BBVA Capital Funding Ltd.,BCL International Finance Ltd.,Banco Bilbao Vizcaya Argentaria S.A.,Banco Bilbao Vizcaya Argentaria Puerto Rico
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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