Fitch rates BBVA Banco Continental notes BBB+

Fitch Ratings said it assigned an expected long-term foreign-currency rating of BBB+ to BBVA Banco Continental's 10-year dollar-denominated senior unsecured notes.

BBVA Banco Continental has a long-term local-currency issuer default rating of BBB+, long-term foreign-currency issuer default rating of BBB+, short-term local- and foreign-currency issuer default ratings at F2 and viability rating of BBB+.

The outlook is negative.

The notes - for an amount to be determined - will mature before Dec. 31, 2022, Fitch said.

The notes will be BBVA Banco Continental's direct senior unsecured obligations and rank pari passu with the bank's existing and future senior obligations, the agency said.

The notes will rank senior to BBVA Banco Continental's existing and future subordinated and junior subordinated debt, Fitch said.

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