Fitch assigns B to BBVA Banco Frances

Fitch Ratings said it affirmed BBVA Banco Frances SA's local currency long-term issuer default rating at B+ and assigned a foreign currency long-term issuer default rating of B.

The outlook is stable.

The agency said the bank’s ratings reflect the likelihood of parent support.

Fitch said it views BBVA Frances as a strategically important entity for Spain's Banco Bilbao Vizcaya Argentaria, SA (A-/stable).

In addition, BBVA Frances' ratings are driven and constrained by Argentina's low sovereign ratings and its volatile economic and operating environments, the agency added.

© 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.