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Preliminary Ratings Assigned In BBVA RMBS 9 FTA, Spanish RMBS Deal Apr 10

  • ID: 1869951
  • April 2010
  • Region: Spain
  • Standard & Poors
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Abstract
OVERVIEW We assigned preliminary ratings to the mortgage-backed floating-rate notes issued by BBVA RMBS 9 FTA. Banco Bilbao Vizcaya Argentaria is the originator of the loans to be securitized. MADRID (Standard & Poor's) April 13, 2010--Standard & Poor's Ratings Services today assigned its preliminary credit ratings to the €1,295 million mortgage-backed floating-rate notes issued by BBVA RMBS 9, Fondo de Titulización de Activos. The originator of the loans backing the RMBS is Banco Bilbao Vizcaya Argentaria, S.A. (BBVA; AA/Negative/A-1+), one of the largest primary lenders in the Spanish financial arena. The portfolio to be securitized comprises secured flexible loans to individuals resident in Spain, with loan-to-value (LTV) ratios higher than 80%. The loans are "flexible" loans because their maturities can...

Companies mentioned in this report are:
- BBVA RMBS 9, Fondo de Titulizacion de Activos
- Banco Bilbao Vizcaya Argentaria S.A.

Action: Preliminary Rating

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- BBVA RMBS 9, Fondo de Titulizacion de Activos
- Banco Bilbao Vizcaya Argentaria S.A.

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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