BULLETIN: Banco Bilbao Vizcaya Argentaria Ratings Unchanged On News Of U.S. Purchases Jun 06
- ID: 1869736
- June 2006
- Region: United States
- Standard & Poors
MADRID (Standard & Poor's) June 13, 2006--Standard & Poor's Ratings Services said today that its ratings and outlook on Banco Bilbao Vizcaya Argentaria, S.A. (BBVA, AA-/Stable/A-1+) remain unchanged following the Spanish bank's announcement of its acquisition of U.S. banks Texas Regional Bancshares and State National Bancshares. These two acquisitions fit well with BBVA's stated strategy of expanding its presence around the U.S.-Mexico border. We expect BBVA to be cautious in its U.S. expansion, in order to overcome the difficulties of extending its franchise in the highly competitive, sophisticated U.S. market and to minimize the potential problems of rapid growth in the region. BBVA will finance the acquisitions with the expected gains from the sale of its stakes in Banca Nazionale...
Companies mentioned in this report are:
- Banco Bilbao Vizcaya Argentaria S.A.
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