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Moody's places Catalunya Banc's ratings on review for upgrade

Moody's on April 4 placed Catalunya Banc SA's Ba2 long-term senior unsecured debtand deposit ratingson review for upgrade.

The rating agency also placed the bank's Not-Primeshort-term deposit ratings, "caa1" baseline credit assessment,"ba1" adjusted baseline credit assessment and Baa3(cr)/Prime-3(cr)long- and short-term counterparty risk assessment on review for upgrade.

Moody's changed the bank's outlook to rating under reviewfrom positive.

The ratings action follows 'sannouncement on March31 that its board of directors agreed to develop a merger plan that will seethe merger by acquisition of Catalunya Banc by BBVA.

The review for upgrade reflects Moody's expectation that,upon conclusion of the merger process, the ratings of Catalunya Banc will bealigned with those of BBVA, which benefits from a stronger credit profile.Following the merger, the agency expects that all of Catalunya Banc'sliabilities will be assumed by BBVA.