Rating Affirmed On BBVA's Public-Sector Covered Bonds Following Review; Stable Outlook Assigned Feb 11
Standard & Poors, February 2011
Abstract
OVERVIEW Today's rating actions follow the application of our revised criteria for assessing asset-liability mismatch risk in covered bonds. We have affirmed our rating on BBVA's public-sector covered bonds. We have also assigned a stable outlook to the ratings on these public-sector covered bonds. MADRID (Standard & Poor's) Feb. 7, 2011--Standard & Poor's Ratings Services today affirmed and removed from CreditWatch negative its 'AAA' credit rating on Banco Bilbao Vizcaya Argentaria, S.A.'s public-sector covered bonds (cédulas territoriales). At the same time, we assigned a stable outlook to these public-sector covered bonds (see list below). Today's affirmation follows the application of our updated covered bond criteria (see "Revised Methodology And Assumptions For Assessing Asset-Liability Mismatch Risk In Covered Bonds," published Dec....
Companies mentioned in this report are:
- Banco Bilbao Vizcaya Argentaria S.A.
Action: Affirmed
Action: Outlook: Stable
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
- Banco Bilbao Vizcaya Argentaria S.A.
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