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Banco de Cr?dito Local de Espa?a's Outlook to Negative Reflecting BBVA Outlook Change Apr 02
Standard & Poors, April 2002
Abstract
MADRID (Standard & Poor's) April 18, 2002--Standard Poor's said today that it had revised to negative from stable its outlook on Spanish bank Banco de Cr-dito Local de Espa-a, S.A. (BCL), reflecting the revision of the outlook on BCL's sole owner, Banco Bilbao Vizcaya Argentaria S.A. (BBVA; AA-/Negative/A-1+), on April 4, 2002. At the same time, Standard & Poor's affirmed its double-'A'-minus long-term and 'A-1'-plus short-term counterparty credit ratings on BCL. 'BCL's overall credit profile remains solid. Nevertheless, as the bank's current ratings are also supported by its full ownership by and increasing integration into its parent, they are subject to the same downward pressure that currently exists on BBVA's ratings,' said Elena Iparraguirre, an associate director in Standard &...
Companies mentioned in this report are: Banco de Credito Local de Espana S.A.,Banco Bilbao Vizcaya Argentaria S.A.
Action: Outlook Revised
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.
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