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Fitch places BBVA USA Bancshares, unit on Ratings Watch Negative

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Fitch places BBVA USA Bancshares, unit on Ratings Watch Negative

Fitch Ratings has placed the BBB+ long-term issuer default rating of BBVA USA Bancshares Inc. on Rating Watch Negative, following a similar action on the company's parent, Banco Bilbao Vizcaya Argentaria SA.

BBVA USA Bancshares' subsidiary BBVA USA's BBB+ long-term issuer default rating was also placed on Rating Watch Negative.

The action reflects the rating agency's view that BBVA USA Bancshares' long-term issuer default rating is driven by support from its parent company. The financial and economic conditions caused by the coronavirus outbreak also drove the action.

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