Moody’s upgrades Catalunya Banc ratings after merger with BBVA

Moody’s Investors Service has upgraded the long and short term local and foreign currency deposit ratings of Catalunya Banc to A3/Prime-2 from Ba2/Not-Prime.

The bank’s long term local currency senior unsecured debt rating has also been upgraded to Baa1 from Ba2. 

This action follows Catalunya Banc’s merger by absorption with its parent Banco Bilbao Vizcaya Argentaria (BBVA), effective as of 9 September 2016.

Following the merger, BBVA will assume all the assets and liabilities of Catalunya Banc. The shareholders of Catalunya Banc are expected to receive the BBVA shares delivered in the exchange on 14 September.

“Given that BBVA assumed all outstanding senior unsecured debt obligations of Catalunya Banc, the Baa1 senior unsecured debt rating carries a stable outlook in line with that assigned to the parent’s senior unsecured debt rating,” Moody’s said.



Alicia Villegas
Alicia Villegas speaks Spanish and Italian and is Iberia Correspondent for InvestmentEurope. She was shortlisted for the Rising Star Award at the British Media Awards 2017 and Writer of the Year at the PPA Independent Publisher Awards 2016. Previously, she worked for almost three years at the seafood business website Undercurrent News as a market reporter. In Spain, she also worked for more than five years for several media outlets.

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