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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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  • 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