Moody's upgrades BBVA

Moody's Investors Service said it upgraded Banco Bilbao Vizcaya Argentaria, SA's (BBVA) deposit ratings to A2/prime-1 from A3/prime-2, long-term senior unsecured debt ratings to A3 from Baa1 and junior senior debt to Baa2 from Baa3.

The outlook on the long-term deposit and senior unsecured debt ratings was changed to stable from positive.

The upgrades were prompted by an expectation of additional issuance of loss-absorbing capital in response to regulatory requirements, Moody's said.

This issuance will reduce loss severity for senior unsecured and junior senior creditors, the agency said, as well as junior depositors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.