S&P: BBVA Chile on watch

Standard & Poor's said it placed an A- long-term issuer credit rating on Banco Bilbao Vizcaya Argentaria Chile y Filiales (BBVA Chile) on CreditWatch with negative implications following the downgrade of its parent, BBVA.

The short-term counterparty credit rating on BBVA Chile remains at A-2.

The agency said it will evaluate the impact of the downgrade of BBVA on the group status of BBVA Chile, S&P said.

The ratings reflect BBVA Chile's adequate business position, moderate capital and earnings, adequate risk position, average funding and adequate liquidity, the agency said.

The ratings also reflect the bank's strategically important status to its parent, S&P said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.