March 17, 2025 13:35 GMT
FINANCIALS: Moody's places BBVA ratings on review for upgrade
FINANCIALS
- This applies to deposit, issuer and BCA ratings - so essentially all bonds likely to move 1 notch higher
- An upgrade is likely as long as the bank isn't 'materially weakened' by a potential Sabadell acquisition
- The upgrade will happen subject to current operating conditions and asset quality remaining stable. Further upgrades look unlikely given current bank operating conditions in Spain.
- Senior Pref: A3 to A3 pos
- Sr Non-Pref: Baa2 to Baa2 Pos
- Tier 2: BBB- to BBB- Pos
- AT1: Ba2 to Ba2 Pos
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