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MADRID - Moody’s Ratings has upgraded Banco Bilbao Vizcaya Argentaria’s (BBVA) long-term senior unsecured debt rating by one notch to A2 from A3, with the outlook changed to stable from Rating Under Review for Possible Upgrade, according to a statement released by the bank today.
The rating agency also upgraded several other BBVA ratings, including its long-term issuer rating to A2 from A3, junior senior unsecured debt rating to Baa1 from Baa2, and subordinated debt rating to Baa1 from Baa2.
Additionally, Moody’s upgraded BBVA’s preferred stock non-cumulative debt rating to Ba1 from Ba2 and commercial paper debt rating to P-1 from P-2.
The bank’s long-term counterparty risk rating was raised to A1 from A2, while its long-term counterparty risk assessment improved to A2(cr) from A3(cr) and short-term counterparty risk assessment to P-1(cr) from P-2(cr).
Moody’s confirmed BBVA’s short-term counterparty risk rating at P-1, long-term deposit rating at A2 with outlook changed to Rating Under Review for Possible Upgrade from Rating Under Review Uncertain, and short-term deposit rating at P-1.
The rating actions were disclosed in a regulatory filing to the London Stock Exchange.
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