Banco Bilbao Vizcaya Argentaria SA Fitch Rating Update (7140Q)

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RNS Number : 7140Q

Banco Bilbao Vizcaya Argentaria SA

22 June 2020

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA), in compliance with the Securities Market legislation, hereby communicates the following:

RELEVANT INFORMATION

Fitch Ratings (Fitch) has announced the modification of BBVA's senior preferred debt long term rating to A- with stable outlook from A with Rating Watch Negative. This rating change has been driven by the modification of BBVA's long term Issuer Default Rating to BBB+ with stable outlook from A- with Rating Watch Negative.

Additionally, Fitch has also modified the ratings of the following BBVA products:

   --    Long term senior non preferred debt: BBB+ from A-. 
   --    AT1 debt: BB from BB+. 

-- Subordinated debt lower Tier 2: BBB- from BBB; and subordinated debt upper Tier 2: BB+ from BBB-.

   --    Long term deposits rating: A- from A; and short term deposits rating: F2 from F1. 
   --    Legacy preferred debt: BB- from BB. 
   --    Short term senior preferred debt: F2 from F1. 
   --    Derivative counterparty rating: A-(dcr) from A(dcr). 

Madrid, June 22nd 2020

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June 23, 2020 02:00 ET (06:00 GMT)