Fitch affirms BBVA

Fitch Ratings said it affirmed BBVA Bancomer's long-term foreign- and local-currency issuer default ratings at A, short-term foreign- and local-currency issuer default ratings at F1 and individual rating at B/C.

The agency affirmed $500 million 6.008% non-cumulative fixed- /floating-rate subordinated non-preferred notes due 2022 at A- and €600 million 4.799% cumulative fixed- /floating-rate subordinated preferred notes due 2017 at A-.

The outlook on the long-term issuer default rating remains negative.

BBVA Bancomer's ratings reflect the very high probability of support from its parent Banco Bilbao Vizcaya Argentaria (AA-/positive).

Ratings also consider the operating environment and a potential sovereign downgrade, Fitch said.

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