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Compass Bancshares Inc. Jun 10
Standard & Poors, June 2010
Abstract
Above-average capital levels Good competitive position Satisfactory liquidity Strategic importance to its highly rated parent Deteriorating loan performance Weak operating performance Large commercial real estate (CRE) loan exposure Standard & Poor's Ratings Services' ratings on Compass Bancshares Inc. (Compass), a wholly owned subsidiary of Banco Bilbao Vizcaya Argentaria S.A. (BBVA S.A.), reflect the company's above-average adjusted capital levels, good competitive position, and satisfactory liquidity. However, the ratings also reflect its deteriorating loan performance, weak operating performance, and significant loan concentrations, notably in CRE and construction. Our ratings on Compass Bancshares are three notches above our stand-alone credit assessment of the company, reflecting our view of the bank's strategic importance to its highly rated parent, BBVA S.A. The company has experienced...
Companies mentioned in this report are: BBVA USA Bancshares Inc.,Compass Bank,Banco Bilbao Vizcaya Argentaria 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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