In the first quarter of 2012, the rating agencies have been active with their ratings of BBVA. In February, Standard & Poor’s and Fitch downgraded their respective ratings to A from A+, and in both cases maintained the negative outlook. These actions were associated with prior downgrades of sovereign debt. Moody’s has maintained its rating of BBVA under review for a possible downgrade since February, as it is doing with the European banks as a whole. This review is expected to end sometime in the second quarter of 2012. In any event, the agencies continue to highlight the strength and resilience of BBVA’s fundamentals. BBVA’s ratings as of April 2012 are shown in the following table.
Ratings
Ratings
|
|
Long term | Short term | Financial Strength | Outlook |
|---|---|---|---|---|
| Moody’s | Aa3 | P-1 | B- | Negative |
| Fitch | A | F-1 | a | Negative |
| Standard & Poor’s | A | A-1 | - | Negative |