|
|
 |
|
Viewing report
|
|
|
|
Banco Bilbao Vizcaya Argentaria, S.A. Apr 05
Standard & Poors, April 2005
Abstract
Strong market positions in Spain and Mexico, Consistent and prudent strategy, Sound credit risk management, and Healthy operating profitability. Exposure to high economic risk through its Latin American subsidiaries, and Market risk in its portfolio of shareholdings. The ratings on Banco Bilbao Vizcaya Argentaria S.A. (BBVA) reflect the bank's strong franchise in its core markets, healthy financial performance, and conservative management. BBVA's exposure to Latin America increases its risk profile and adds some volatility to results. The bid for Banca Nazionale del Lavoro SpA (BNL; BBB+/Watch Pos/A-2), if realized, will further enhance BBVA's geographic and business diversification, and expand its growth capabilities through an underdeveloped franchise. BBVA maintains a diversified and strong position in all segments of its core markets--primarily...
Companies mentioned in this report are: Banco Bilbao Vizcaya Argentaria S.A.,Banca Nazionale del Lavoro SpA (former)
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
|
|
|
|
