S&P revises BBVA view to negative

S&P said it revised its outlook on Banco Bilbao Vizcaya Argentaria SA (BBVA) and its core subsidiary BBVA Global Markets BV to negative from stable.

At the same time, S&P affirmed the A- long-term and A-2 short-term issuer credit ratings on both institutions and the A/A-1 resolution counterparty rating on BBVA.

“The rating action reflects our belief that current events in Turkey have the potential to negatively affect our view of the group's creditworthiness. Specifically, we consider that the heightened risks in Turkey might lower our expectations regarding the group's ability to strengthen its capital and improve its asset quality,” S&P said in a news release.

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